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