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Richard Thaler: The anomalies of life

Werner De Bondt, Marie Pfiffelmann and Patrick Roger

Finance, 2018, vol. 39, issue 1, 9-34

Abstract: For four decades, the spirited, contentious ideas of Richard Thaler, laureate of the 2017 Nobel Prize in economics, have perturbed eco?nomics and finance as well as decision theory, accounting, marketing, law, and public policy. We review Thaler?s research philosophy and principal contributions, with an emphasis on his contributions to finance. In particular, we summarize and evaluate his work on inefficient markets, framing, decisions under risk, and choi?ce architecture.

Keywords: Thaler; behavioral economics; mental accounting; nudge; framing; investor sentiment; equity premium; market efficiency (search for similar items in EconPapers)
Date: 2018
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