Thaler, the University of Chicago professor who this week won the Nobel Prize in economics, expressed his views about President Donald Trump in the form of a simple, unflattering number. Thaler's research has helped economists understand that "human behavior often contradicts traditional economic logic", according to a University of Chicago news release.
Thaler co-authored a book with Harvard's Cass R. Sunstein called "Nudge: Improving Decisions about Health, Wealth, and Happiness".
The 72-year-old was described by the Nobel Prize academy as being "a pioneer in behavioral economics, a research field in which insights from psychological research are applied to economic decision making".
Demonstrating his sense of humor, when asked at the Nobel news conference what he planned to do with his prize money (about $1.1 million), Thaler said he planned to spend it "as irrationally as possible".
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Tittle never won a championship but was shown in an iconic photo taken by Dozier Mobley during his final season in 1964. Some on Twitter commented on Tittle's greatness and suggested he was disheartened by the current Giants' dismal season.
Influential in academic circles, the movie-going public may have noticed Thaler make a brief cameo in the 2015 film "The Big Short", explaining the so-called "hot-hand fallacy" where past success is expected to also warrant success in the future, with pop star Selena Gomez.
Kochov said Thaler showed consumers can be guided to more rational choices through nudges, such as making a retirement savings the default plan at work, rather than leaving it up to the employee to initiate.
The last of the Nobel prizes to be awarded this year is something of an outlier Alfred Nobels will didnt call for its establishment and it honors a science that many doubt is a science at all. It was not part of the original group of awards set out in dynamite tycoon Nobel's 1895 will.
The United States has dominated the economics prize, with American economists accounting for roughly half of laureates since the inception of the award.