Richard Thaler

Thaler, whose 'Nudge Thoery' won him the Nobel prize in 2017, said there are protests in every part of the world which have come to India and it shows that democracy is "fragile" right now

The government has already set up a Nudge unit; now, it should apply the Nobel laureate's insights on auctions of essential infrastructure

Thaler also said his field could do more to research how human psychology affects things like inflation or interest rates

Nudging is where small stimuli are provided to influence people's behaviour

Thaler showed that economic and financial decision-makers are not always rational, but mostly deeply human