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Thaler changed my life (and everybody else's): Cass R. Sunstein

Nobel Prize winner Richard Thaler is responsible for many features of your retirement plan, thanks to his study of human financial and economic behavior.

By Cass R. Sunstein | Updated on October 09, 2017
Nobel Prize winner Thaler is responsible for many features of your retirement plan, thanks to his study of human financial and economic behavior. (Photo: Getty)

(Bloomberg View) – I first heard about Richard Thaler in the 1980s, in a locker room at the University of Chicago.

I had run into Steve Shavell, an economist at Harvard Law School, who asked me what I was working on. I mumbled some question I had, about whether people really behaved as rationally as economists said they do. Shavell responded without a lot of enthusiasm: “Oh, you should be reading Thaler, that guy from Cornell.”

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