The outsider gets acceptance.

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Richard Thaler and the Human Side of Economics

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”
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This week in our Masters in Business radio podcast, we speak with the man known as the father of behavioral economics, Richard Thaler professor at the University of Chicago Booth School of Business. He is perennially on the short list of potential Nobel Prize recipients in economics. 

Thaler began his career as an economist who asked the sorts of questions that gave his academic advisers fits. He was fond of identifying where actual human behavior differed from how economists theorized people behaved. The distinction between real people and homo economicus was so stark that a new field of economics was born. His new book, "Misbehaving," documents the rise of the field he helped found. 

Listen to the full podcast on iTunesSoundCloud or on Earlier podcasts can be found on iTunes and at

Next week, we speak with tech entrepreneur, venture capitalist and philanthropist Nick Hanauer.

This column does not necessarily reflect the opinion of Bloomberg View's editorial board or Bloomberg LP, its owners and investors.

To contact the author on this story:
Barry L Ritholtz at

To contact the editor on this story:
James Greiff at