American economist Richard Thaler has won the 2017 Nobel Prize for Economics. Thaler was recognized for his work as a behavioral economist. That means he studies the reasons behind the economic decisions people make. Thaler received the prize partly for his research into why people often make irrational financial decisions. The Royal Swedish Academy of Sciences announced the $1.1 million prize on Monday. Speaking of the prize money, Thaler told reporters in Chicago after the announcement, “I will spend it as irrationally as possible.” The award committee said Thaler explored “the consequences of limited rationality, social preferences, and lack of self-control.” It said the American economist’s work has shown how human qualities affect people’s individual decisions and the movements of financial markets.
Title: American Wins Nobel Prize in Economics
Content: <div id='article-page'><div id='article-content' data-media-url='//news-app-staging.s3.amazonaws.com' data-base-url='//news-app-staging.herokuapp.com' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/econ_nobel.m4a' data-capture-url='//staging.analytics.lingraphica.com/events/capture_news' data-article-title='American Wins Nobel Prize in Economics' data-article-id='2671'><script src='//news-app-staging.herokuapp.com/javascripts/getscripts.js'></script><link rel='stylesheet' href='//news-app-staging.herokuapp.com/stylesheets/article.css' type='text/css' /><div class='article'><p><span data-start-time='0' data-end-time='9542'>American economist Richard Thaler has won the 2017 Nobel Prize for Economics.</span> <span data-start-time='9542' data-end-time='16313'>Thaler was recognized for his work as a behavioral economist.</span> <span data-start-time='16313' data-end-time='24229'>That means he studies the reasons behind the economic decisions people make.</span> <span data-start-time='24229' data-end-time='35604'>Thaler received the prize partly for his research into why people often make irrational financial decisions.</span> <span data-start-time='35604' data-end-time='45729'>The Royal Swedish Academy of Sciences announced the $1.1 million prize on Monday.</span> <span data-start-time='45729' data-end-time='58958'>Speaking of the prize money, Thaler told reporters in Chicago after the announcement, “I will spend it as irrationally as possible.”</span> <span data-start-time='58958' data-end-time='73583'>The award committee said Thaler explored “the consequences of limited rationality, social preferences, and lack of self-control.”</span> <span data-start-time='73583' data-end-time='88500'>It said the American economist’s work has shown how human qualities affect people’s individual decisions and the movements of financial markets.</span> </p></div><div class='control-buttons-sticky' style='display:none;'><div class='control-buttons'><button title='Back' class='back' disabled='disabled'></button><button title='Play' class='play' disabled='disabled'></button><button title='Pause' class='pause' style='display:none;'></button><button title='Forward' class='forward' disabled='disabled'></button><button class='finished-reading' style='display:none;'>Done</button></div></div></div><div id='article-media'><div id='media-image'><img src='https://news-app-production.s3.amazonaws.com/articles/2153/econ_nobel.jpg'/></div></div><div id='question-content' style='display:none;'><div class='vocabulary_question question-container' data-question-id=9516 data-hint-location='58958' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/what_does_consequence_mean.m4a'>What does consequence mean?</div><div class='choices' data-correct-choice='result of action'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/social_preference.m4a'><span>social preference</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/impulse_purchase.m4a'><span>impulse purchase</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/result_of_action.m4a'><span>result of action</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/financial_market.m4a'><span>financial market</span></div></div></div><div class='multiple_choice_question question-container' data-question-id=9517 data-hint-location='45729' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/what_will_he_do_with_the_prize_money.m4a'>What will he do with the prize money?</div><div class='choices' data-correct-choice='spend it'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/give_it_back.m4a'><span>give it back</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/spend_it.m4a'><span>spend it</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/donate_it.m4a'><span>donate it</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/invest.m4a'><span>invest</span></div></div></div><div class='sentence_completion_question question-container' data-question-id=9518 data-hint-location='9542' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/he_was_recognized_for_his_work_as_a__blank__economist.m4a'>He was recognized for his work as a <span class='blank'>behavioral</span> economist.</div><div class='choices' data-correct-choice='behavioral'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/behavioral.m4a'><span>behavioral</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/business.m4a'><span>business</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/government.m4a'><span>government</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/2153/academic.m4a'><span>academic</span></div></div></div><div class='question-buttons'><button class='skip-button'></button><button class='hint-button'></button><button class='speak-button'></button></div></div></div>
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