A behavioral economist and collaborator of Kahneman and Tversky’s. Thaler coined the different classifications of Econs and Humans, which draw a distinction between the way economists view people and the way psychologists view people. As a graduate student, Thaler discovered people’s behavior was often inconsistent with accepted economic theory, and was attracted by Kahneman and Tversky’s work on prospect theory to help explain some of those inconsistencies. Together, the three men explored different behavioral economics principles like the endowment effect and broad framing, significantly advancing and defining the field.
Richard Thaler Character Timeline in Thinking, Fast and Slow
The timeline below shows where the character Richard Thaler appears in Thinking, Fast and Slow. The colored dots and icons indicate which themes are associated with that appearance.
Part 3, Chapter 20
Part 4, Chapter 25
Part 4, Chapter 27
Part 4, Chapter 28
Part 4, Chapter 31
Part 4, Chapter 34
...gallons. The mpg frame is wrong, and Cass Sunstein, a psychologist who worked with Richard Thaler, helped to change policy that now requires fuel economy information to be printed in gallons-per-mile... (full context)