Jump to content

Guest

By the Numbers (Richard Thaler)

Topic Summary

Created

Last Reply

Replies

Views

Guest -
g@gmail.com -
2
256

Top Posters

  • Guest 1
  • g@gmail.com 1

Recommended Posts

Guest

Richard Thaler, professor at the University of Chicago Booth School of Business, was awarded the 2017 Nobel Prize in Economics. Thaler’s research into irrational human behavior (like how NFL teams overvalue draft prospects) challenged “classical economics,” which depicted humans as perfectly rational actors. Of course, thanks to Thaler and his fellow researchers, we know people make economic decisions for all sorts of reasons. Let’s learn more about Mr. Irrational himself:

200%—The amount you could overvalue something once you have it already in your possession. Thaler and colleagues called this irrational behavior the “endowment effect. 

9 million—The number of Swedish krona Richard Thaler will receive for the prize. That translates to about $1.1 million. 

7,826—The number of academic citations of Thaler’s most-cited paper, a 1985 article called “Does the stock market overreact?

15%—How much more valuable second-round NFL draft picks are (dollar-for-dollar) than first-round picks, according to Thaler and his colleague Cade Massey. 

512%—The growth of the Undiscovered Managers Behavioral Value Fund, which Thaler helps to manage. It has nearly doubled the S&P’s performance since 2009.

Source

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Forum Statistics

    62,032
    Total Topics
    116,623
    Total Posts
  • Member Statistics

    16,534
    Total Members
    1,592
    Most Online
    Marek Markus
    Newest Member
    Marek Markus
    Joined




×
×
  • Create New...

Important Information

Terms of Service Confirmation Terms of Use Privacy Policy Guidelines We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.