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Nobel Prize Winner to Spend His $1 Million “Irrationally”


Richard Thaler Will Spend His $1 Million Nobel Prize “Irrationally”

How would you spend $1 million dollars? I’m sure all of us have thought about it at least once. We keep saying that when we win the lottery, we will buy this, get that. In most cases, it never happens, but a few lucky people can actually make those plans come true.

Of course, there wasn’t much luck involved when Richard Thaler received his $1 million to spend. It had a lot more to do with real talent, enthusiasm, and innovation. Thaler won the Nobel Prize on Monday, and as it should be, the money came with it, not just the ‘fame’.

Thaler’s work and philosophy might just be one of the most important ones of modern society. His field of expertise is behavioural economics, which isn’t even considered to be an exact science by some. And yet, it exists, and is essential to understand how people think.

Thaler combines his knowledge of psychology and economics, thus creating a “more realistic analysis of how people think and behave when making economic decisions.”

Probably the only question left is what he will use his prize money on. When asked, he said that he “will try to spend it as irrationally as possible.” Well, not sure what that means in science circles, especially since it will probably go towards his research. Congratulations on his achievements, and let’s ask the cards how this will effect his future research.

Psychic Timea’s Reading

Card One: King of Cups

Thaler’s open-mindedness got him the award he deserved. His past will give him a perfect basis for future growth. Of course, the $1 million will help, too.

King of Cups

Card Two: Ten of Swords

Although it’s time to appreciate everything he has achieved, the road hasn’t been easy. Hard work and exhaustion described the past few years for Thaler. The final solution isn’t ready yet, but he is working hard on achieving his goals. Eventually he will get there.

Ten of Swords

Card Three: Two of Wands

Winning the Nobel Prize is an exhilarating achievement. Thaler will come up with many theories in the coming years. However, his is a lonely victory.

Two of Wands

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