When I was studying economics in the 1980s, it was quite vulnerable to the criticism that the entire edifice was built on a shaky assumption: homo economicus. But now that Kahnemann, Thaler et al. have slain h.e., economics is that much stronger.
It’s always nice when someone whose work has been used in LIRNEasia wins a big award. Robert Shiller greatly influenced our thinking on risk-reduction in the aftermath of the 2004 Indian Ocean tsunami. It’s true that he did not get the 2013 Nobel for that work, but still we are happy that an economist who always found the time to engage with contemporary economic policy issues has been so recognized. Report.