STOCKHOLM — Research into market behavior and the psychology of decision-making could be awarded the Nobel Prize for economics today and improve the weak U.S. representation among this year’s Nobel laureates.
Betting agency Ladbrokes says American behavioral economists Richard Thaler at the University of Chicago and Robert Shiller of Yale University are the top bets for this year’s award.
The $1.5 million prize is not among the original awards established by Swedish industrialist Alfred Nobel in his 1895 will but was created in 1968 by the Swedish central bank in his memory.
Thaler is considered a pioneer in behavioral finance, having studied the psychology of decision-making and the behavior of markets, and Shiller is an influential economist who long predicted the U.S. housing bubble.
