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<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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