Nobel Memorial Prize in Economic Sciences
Laureates in the Memorial Prize in Economics are selected by the Royal Swedish Academy of Sciences. It was first awarded in 1969 to the Dutch and Norwegian economists Jan Tinbergen and Ragnar Frisch, "for having developed and applied dynamic models for the analysis of economic processes".
Richard Thaler
Thaler was the 2017 recipient of the Nobel Memorial Prize in Economics for "incorporat[ing] psychologically realistic assumptions into analyses of economic decision-making. By exploring the consequences of "limited rationality", "social preferences", and "lack of self-control", he has shown how these human traits systematically affect individual decisions as well as market outcomes."