Outline:

• Who is he considered in the field he is working on?
• How his contribution was reacted to in his field?
• Why is his contributions important?
• What was the impact of his contributions on his field specifically and in the world generally?
• What is the story that made him reach this situation?
• Other research subjects that the researcher is focusing?
• What lead him to the main idea of his research?

Richard H. Thaler is an economist, and a Professor of behavioral science and economics at the University of Chicago. His ideas and research in the field of behavioral economy are considered to be one of the reasons that behavioral economy would take a deviation from the actual field of economics to represent itself and create its own logical ideas that will change the worlds way of thinking ( The Book review) . It’s promising change if exploited, not only that it will change the way we look at finance and the utilization of money but also on the way we think about human beings in general. Most, if not all of his contributions, does not only influence one field or one group but his contributions on ideas such as “nudge”, “market overreaction” and “Human Misbehavior” have the capability of changing a tremendous current strategies which are being used in institutions, such as school, health facilities, government institution, and the market. Although his ideas may be considered too simple to be giving the attention to, it is the simple effect that if controlled could cause a revolution in term of the strategies that it is facilitating, and maybe because of that it could be one of the most dangerous points that would be introduced to this generation and upcoming generations, as in its power to manipulate the human mind to move in a certain direction that could be human mapped for designing to certain locations or certain organization of words. With all of that, what makes his ideas distinguished from others is that it calls for a rearview to the economic and managements way of perceiving human mind as completely rational.

The way that Richard H. Thaler reached such a position in his life, where he was able to introduce his ideas to the world is by communicating with his surroundings, presenting the uniqueness and the confusion of which he used to approach the field of microeconomic, and above all of that using each chance giving to him to make success from it. (The Book review)  Starting with presenting his confusion on microeconomics and his thought of a new aspect, that is that endowment effect to his friend

Richard Thaler.

• What really motivates you as a person to study economics?
• What was your path like trying to reach this point in your life?
• I did not really understand but after your idea, that previous economics had mistaken in thinking that people think “rationally” but they in fact think “irrationally”. There were many upset economists with that, even in the Chicago University. How did you cope with that or did you just ignore it?
• What future research subjects are you aiming for in the future?
• In your “nudge” theory, as well as in your ”Misbehaving book”, what are you aiming to achieve as a whole by publishing and contributing in all of these ideas?

Faith on the people and on the power of psychology to put violence away and start using psychological method to get things to move in the right direction. It may seem like a non-serious way to handle stuff in the world but it is going to be a huge way that government and school are going to use in the future.

Won nobel prize on 2017 on economics and behavioral science.

Nudge ( decision making process) a gentle encouragement to affect the decision making process.

Manipulate people’s behavior

• A simple effective way.

Professor of economics and behavioral science

The graduate school of business at the university of Chicago

And co- author of the the book nudge

Small things in the environment that attract our attention and affect our behavior

Big brother >>> some choice architect, no manipulating of the brain

About the way people behave in compare to the way economists think that they behave as highly rational people

Nobel prize in his book misbehaving

1986

His idea of nudge was used first in the united states

If you want people to do something make it easy (applications to college)

Went against traditional classic research

Found a disparagements from his students in The University of Chicago

applied his idea of nudge in college

Present the figure.

The crucial role of developing convincing and sound arguments.

Thaler started to develop now famous “the list” documenting examples of deviation from a model of rational behavior.

I thought that the “nudge” idea is really great, despite that when thinking about it, in the long wrong, it could be really dangerous idea. How did you come to this idea? And what is it that you noticed about human beings that made you think that nudging is going to be an effective strategy to influence people’s behavior?