Editing Behavioral economics (section)

== Honors and awards ==

=== Nobel Prize ===

==== 1978 – Herbert Simon ====
In 1978 [[Herbert A. Simon|Herbert Simon]] was awarded the [[Nobel Memorial Prize in Economic Sciences]] "for his pioneering research into the decision-making process within economic organizations".<ref>{{Cite web|url=https://www.nobelprize.org/prizes/economic-sciences/1978/summary/|title=The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1978|website=NobelPrize.org}}</ref> Simon earned his Bachelor of Arts and his Ph.D. in Political Science from the University of Chicago before going on to teach at Carnegie Tech.<ref>{{Cite journal |last1=Velupillai |first1=K. Vela |last2=Venkatachalam |first2=Ragupathy |date=2021 |title=Herbert Alexander Simon: 15th June, 1916–9th February, 2001 A Life |journal=Computational Economics |language=en |volume=57 |issue=3 |pages=795–797 |doi=10.1007/s10614-018-9811-z |s2cid=158617764 |issn=0927-7099|doi-access=free }}</ref> Herbert was praised for his work on [[bounded rationality]], a challenge to the assumption that humans are rational actors.<ref>{{Cite journal |last=Leahey |first=Thomas H. |date=2003 |title=Herbert A. Simon: Nobel Prize in Economic Sciences, 1978. |url=http://doi.apa.org/getdoi.cfm?doi=10.1037/0003-066X.58.9.753 |journal=American Psychologist |language=en |volume=58 |issue=9 |pages=753–755 |doi=10.1037/0003-066X.58.9.753 |pmid=14584993 |issn=1935-990X}}</ref>

==== 2002 –- Daniel Kahneman and Vernon L. Smith ====
In 2002, psychologist [[Daniel Kahneman]] and economist [[Vernon L. Smith]] were awarded the Nobel Memorial Prize in Economic Sciences. Kahneman was awarded the prize "for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty", while Smith was awarded the prize "for having established laboratory experiments as a tool in empirical economic analysis, especially in the study of alternative market mechanisms."<ref name="Winners20022">{{cite web |title=The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2002 |url=http://nobelprize.org/nobel_prizes/economics/laureates/2002/ |access-date=2008-10-14 |publisher=Nobel Foundation}}</ref>

==== 2017 – Richard Thaler ====
In 2017, economist [[Richard Thaler]] was awarded the Nobel Memorial Prize in Economic Sciences for "his contributions to behavioral economics and his pioneering work in establishing that people are predictably irrational in ways that defy economic theory."<ref>{{Cite news |last=Appelbaum |first=Binyamin |date=2017-10-09 |title=Nobel in Economics is Awarded to Richard Thaler |work=The New York Times |url=https://www.nytimes.com/2017/10/09/business/nobel-economics-richard-thaler.html |access-date=2017-11-04}}</ref><ref>{{Cite news |last=Carrasco-Villanueva |first=Marco |date=2017-10-18 |title=Richard Thaler y el auge de la Economía Conductual |language=es |work=Lucidez |url=http://lucidez.pe/economia/richard-thaler-y-el-auge-de-la-economia-conductual-por-marco-carrasco/ |access-date=2018-10-31}}</ref> Thaler was especially recognized for presenting inconsistencies in standard Economic theory and for his formulation of [[mental accounting]] and [[Libertarian paternalism]]<ref>{{Cite journal |last=Earl |first=Peter E. |date=2018 |title=Richard H. Thaler: A Nobel Prize for Behavioural Economics |journal=Review of Political Economy |volume=30 |issue=2 |pages=107–125 |doi=10.1080/09538259.2018.1513236|s2cid=158175954 |doi-access=free }}</ref><ref>{{cite web |title=The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2013 |url=https://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2013/ |access-date=2016-07-01 |publisher=Nobel Foundation}}</ref>

=== Other Awards ===

==== 1999 – Andrei Shleifer ====
The work of [[Andrei Shleifer]] focused on behavioral finance and made observations on the limits of the [[Efficient-market hypothesis|efficient market hypothesis]].<ref name=":43"/> Shleifer received the 1999 [[John Bates Clark Medal]] from the [[American Economic Association]] for his work.<ref>{{Cite journal |last=Blanchard |first=Olivier |date=2001 |title=In Honor of Andrei Shleifer: Winner of the John Bates Clark Medal |journal=The Journal of Economic Perspectives |volume=15 |issue=1 |pages=189–204 |doi=10.1257/jep.15.1.189 |jstor=2696547 |issn=0895-3309|doi-access=free }}</ref>

==== 2001 – Matthew Rabin ====
[[Matthew Rabin]] received the "genius" award from the MarArthur Foundation in 2000.<ref name=":43" /> The American Economic Association chose Rabin as the recipient of the 2001 John Bates Clark medal. Rabin's awards were given to him primarily on the basis of his work on fairness and reciprocity, and on [[present bias]].<ref>{{Cite news |last=Uchitelle |first=Louis |year=2001 |title=Economist Is Honored For Use Of Psychology |work=[[The New York Times]] |issn=0362-4331}}</ref>

==== 2003 – Sendhil Mullainathan ====
[[Sendhil Mullainathan]] was the youngest of the chosen MacArthur Fellows in 2002, receiving a fellowship grant of $500,000 in 2003.<ref>{{Cite news |last=Pais |first=Arthur J. |date=2002 |title=Economist Mullainathan is MacArthus 'Genius' |work=India Abroad |issn=0046-8932}}</ref><ref name=":43" /> Mullainathan was praised by the MacArthur Foundation as working on economics and psychology as an aggregate.<ref name=":43" /> Mullainathan's research focused on the salaries of executives on Wall Street; he also has looked at the implications of racial discrimination in markets in the United States.<ref>{{Cite news |last=Lee |first=Felicia R. |date=2002 |title=Winners of MacArthus Grants Announced |work=[[The New York Times]] |issn=0362-4331 }}</ref><ref name=":43" />