Nick Kokonas and Richard Thaler, Nobel Prize Laureate — Realistic Economics, Avoiding The Winner’s Curse, Using Temptation Bundling, and Going Against the Establishment (#830)
Description
Richard H. Thaler (@r_thaler) is the 2017 recipient of the Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics and the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. He is also a founding principal at FullerThaler Asset Management, which uses behavioral finance to manage over $30 billion in small-cap US equities.
Thaler has been a professional disrupter. He helped create the fields of behavioral economics and finance that lie in the gap between economics and psychology. He investigates the implications of relaxing the standard economic assumption that everyone in the economy is rational and selfish, instead entertaining the possibility that some of the agents in the economy are sometimes human.
Thaler is the New York Times bestselling coauthor of Nudge: Improving Decisions About Health, Wealth, and Happiness (with Cass R. Sunstein) and the author of Misbehaving: The Making of Behavioral Economics. His new book is The Winner’s Curse: Behavioral Economics Anomalies, Then and Now, co-authored with economist Alex O. Imas.
My co-host is Nick Kokonas (@nickkokonas), an entrepreneur, investor, and author best known as the co-founder of The Alinea Group (sold, 2024) and the reservation platform Tock (now owned by American Express). After revolutionizing how restaurants and experiences are crafted, booked, and managed, he’s now focused on creative ventures that blend business, technology, and art—from immersive theater projects to Napa Valley winemaking. A philosophy graduate of Colgate University, he is as interested in ideas and first principles as he is in building things that last. He lives in Chicago and Napa Valley with his wife and two sons.
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SHOW NOTES & LINKS
Transcripts
SELECTED LINKS FROM THE EPISODE
- Connect with Richard Thaler:
University of Chicago Booth School of Business | Twitter
- Connect with Nick Kokonas:
Twitter | Instagram | Facebook
- Nick’s prior appearances on the podcast:
- Nick Kokonas — How to Apply World-Class Creativity to Business, Art, and Life | The Tim Ferriss Show #341
- Nick Kokonas on Resurrecting Restaurants, Skin in the Game, and Investing | The Tim Ferriss Show #429
Books and Articles
- The Winner’s Curse: Behavioral Economics and Anomalies Then and Now by Richard H. Thaler and Alex Imas
- Misbehaving: The Making of Behavioral Economics by Richard H. Thaler
- Nudge: Improving Decisions about Health, Wealth, and Happiness by Richard H. Thaler and Cass R. Sunstein
- Richard H. Thaler: Integrating Economics with Psychology | Nobel Prize Scientific Background
- Richard H. Thaler: A Nobel Prize for Behavioural Economics | International Journal of the Economics of Business
- <a href="https://www.
United States
