Chicago Booth
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This Is Why We Nudge: Reaffirming Nobel Winner Richard Thaler’s ‘Nudge’
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In October 2017, Richard Thaler won the University of Chicago its 29th Nobel Prize in Economic Sciences for his contributions to behavioral economics. Stockholm’s nod to Thaler is less coup than coronation, of both Thaler himself and of the broad applicability and value of behavioral economics as an indispensable discipline,…
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Incentive Structures, Central Banks, and Economic Policies: A Conversation with Raghuram Rajan
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Raghuram Rajan is the Katherine Dusak Miller Distinguished Service Professor of Finance at University of Chicago’s Booth School of Business. He is also the Vice-Chairman of the Bank for International Settlements (BIS). From September 2013 to September 2016, he was the 23rd Governor of the Reserve Bank of India. Prior…
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Spend or Save? What to Decide When Faced with Financial Emergencies
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Behavioral interventions aimed at promoting savings may lead to counterproductive consequences. Researchers find that consumers may borrow high-interest debt in favor of preserving low-interest savings. Policies encouraging savings should be coupled with efforts that promote education on appropriate spending of savings.