Born in Mumbai, the 58-year-old economist is currently the Ford Foundation International Professor of Economics at the US-based Massachusetts Institute of Technology
The 2019 Sveriges Riksbank Prize in Economic Sciences has been awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty"
Fundamentally, both Romer and Nordhaus have contributed to the economics profession in the same way
A premise of his research was that the environment is a public good
So far, no one researching how policies work in the real world has won
Thaler and other adherents of behavioural economics pointed out that workers saving for retirement can be their own worst enemies
Nobel winner Richard Thaler's formalisation of economic behaviour that is not rational in the traditional sense reframes economic questions in ways that can improve government policies
Mr Thaler made human behaviour central to economic theory
The economics prize was established in 1968 in memory of Alfred Nobel and is awarded by the Royal Swedish Academy of Sciences
Thaler of the University of Chicago has made the case that human decisions are shaped by social context, expectation and temptation