It's a mystery to me: Nobel Prize winner Richard Thaler on record markets

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

University of Chicago professor Richard Thaler may have won the Nobel Economics Prize on Monday for his work on behavioural economics, but the behaviour of investors has him stumped.

Thaler said on Tuesday he is puzzled by the steady rise of global stock markets in recent years, even as many countries are gripped by political and social drama.

"It's a mystery to me. That, and the unbelievably low volatility in a time of massive global uncertainty seems mysterious to me," Thaler said in a phone interview from his Chicago apartment.

Thaler also said his field could do more to research how