We're all human: 'Nudge' theorist Thaler wins economics Nobel

U.S. economist Richard Thaler, of the University of Chicago Booth School of Business, smiles upon arrival at his office after winning the 2017 Nobel Economics Prize in Chicago, Illinois, U.S. October 9, 2017. REUTERS/Kamil Krzaczynski

STOCKHOLM/CHICAGO (Reuters) - U.S. academic Richard Thaler, who helped popularise the idea of "nudging" people towards doing what was best for them, won the 2017 Nobel Economics Prize on Monday for his work on how human nature affects supposedly rational markets.

Influential in the field of behavioural economics, his research showed how traits such as lack of self-control and fear of losing what you already have prompt decisions that may not have the best outcome in the longer term.