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American Richard Thaler has been named the winner of  the Nobel Prize in economics 2017.

The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2017 to Richard H. Thaler “for his contributions to behavioural economics”, the press release reads.

The Sveriges Riksbank Prize in Economic Sciences in memory of Alfred Nobel has been awarded 49 times to 79 laureates.

The prize was established in 1968 by a donation from Sweden's central bank and it is not one of the prizes that Alfred Nobel established in his will in 1895.

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