How Richard Thaler Changed Economics

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This year’s Nobel Memorial Prize for Economics was awarded to the American, Richard Thaler, for his contributions to behavioural economics. In this week’s More or Less, Charlotte McDonald and Tim Harford explain why Thaler’s work has been so important. They introduce the audience to his world of good nudges, evil nudges and sludge. Presenter: Tim Harford Producer: Charlotte McDonald (Professor Richard Thaler standing in front of portraits of previous winners at the University of Chicago. Credit: Scott Olson/Getty Images)