VOA慢速英语2017--American Wins Nobel Prize in Economics
时间:2019-01-03 作者:英语课 分类:2017年VOA慢速英语(十)月
American economist 1 Richard Thaler has won the 2017 Nobel Prize for Economics.
Thaler was recognized for his work as a behavioral economist. That means he studies the reasons behind the economic decisions people make.
Thaler received the prize partly for his research into why people often make irrational 2 financial decisions. The Royal Swedish Academy of Sciences announced the $1.1 million prize on Monday.
Speaking of the prize money, Thaler told reporters in Chicago after the announcement, “I will spend it as irrationally 3 as possible.”
Things people do to make financial decisions
The award committee said Thaler explored “the consequences of limited rationality, social preferences, and lack of self-control.” It said the American economist’s work has shown how human qualities affect people’s individual decisions and the movements of financial markets.
Thaler developed the theory of “mental accounting 4.” It describes how people create separate accounts in their minds to try to simplify financial decision-making.
He described how this can lead to less rational financial decisions like saving for a vacation while paying high credit card interest.
His research, Bloomberg noted 5, showed that people often choose short-term pleasures, “which is why many people fail to plan and save for old age.”
The Reuters said Thaler’s research showed that such traits “as lack of self-control and fear of losing what you already have” can cause people to make bad short-term decisions.
One of those, Thaler noted, was keeping stock shares that have lost value or selling them too soon when they have gained value.
Thaler helped develop the “nudge” theory. It is the idea that small incentives 6 can influence people to make good decisions. He said people should be permitted to make their own choices, but society “should actively 7 try to guide individuals in the right direction.”
Cass Sunstein and Thaler wrote about the idea in the 2008 book “Nudge.”
The theory has been used by political candidates as they work to influence voters and government officials seeking to make changes in society.
Other areas also interested Thaler. He studied fairness. He found that people can accept increasing prices if the costs of many things are going up. But he found that they strongly disapprove 8 of companies that raise prices simply because of high demand for one product.
Bloomberg called Thaler’s Nobel Prize “a reward for 40 years of work spent studying human bias 9 and temptation.”
Thaler is considered one of the first behavioral economists 10. His field, once criticized, has grown in popularity among economists over the last 10 years.
The economist even briefly 11 appeared in the 2010 movie, “The Big Short,” about the global financial crisis.
Thaler is a professor of behavioral science and economics at the University of Chicago Booth School of Business.
The economics prize was created in 1968 in memory of Alfred Nobel after his death. Since then, 79 individuals have received the prize. The first woman winner was Elinor Ostrom in 2009.
American have received about half of the Nobel Prizes for economics.
I’m Mario Ritter.
Words in This Story
irrational – adj. not rational, not based on good judgment 12 or reason
consequences – n. the results of an action
preferences – n. things that are liked or preferred more than others
account – n. a record of money paid, owed or received
incentives – n. reasons to do something
bias – n. believing in one side of an idea at the expense of the other
temptation – adj. the desire to have something
- He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
- He's an economist who thinks he knows all the answers.他是个经济学家,自以为什么都懂。
- After taking the drug she became completely irrational.她在吸毒后变得完全失去了理性。
- There are also signs of irrational exuberance among some investors.在某些投资者中是存在非理性繁荣的征象的。
- They reacted irrationally to the challenge of Russian power. 他们对俄军的挑衅做出了很不理智的反应。
- The market is irrationally, right? 市场的走势是不是有点失去了理性?
- A job fell vacant in the accounting department.财会部出现了一个空缺。
- There's an accounting error in this entry.这笔账目里有差错。
- The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
- Jim is noted for arriving late for work.吉姆上班迟到出了名。
- tax incentives to encourage savings 鼓励储蓄的税收措施
- Furthermore, subsidies provide incentives only for investments in equipment. 更有甚者,提供津贴仅是为鼓励增添设备的投资。 来自英汉非文学 - 环境法 - 环境法
- During this period all the students were actively participating.在这节课中所有的学生都积极参加。
- We are actively intervening to settle a quarrel.我们正在积极调解争执。
- I quite disapprove of his behaviour.我很不赞同他的行为。
- She wants to train for the theatre but her parents disapprove.她想训练自己做戏剧演员,但她的父母不赞成。
- They are accusing the teacher of political bias in his marking.他们在指控那名教师打分数有政治偏见。
- He had a bias toward the plan.他对这项计划有偏见。
- The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
- Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》
- I want to touch briefly on another aspect of the problem.我想简单地谈一下这个问题的另一方面。
- He was kidnapped and briefly detained by a terrorist group.他被一个恐怖组织绑架并短暂拘禁。