‘It just fizzled away,’ ‘I bought lavish furnishings’ — how Nobel Prize in Economics winners spent their prize money [MarketWatch]
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‘It just fizzled away,’ ‘I bought lavish furnishings’ — how Nobel Prize in Economics winners spent their prize money One said his prize money “just fizzled away,” while another put his toward a home renovation. We’re not talking about lottery winners, but Nobel Prize laureates in economics. This year’s winner, behavioral economics founding father Richard Thaler, joked Monday he’ll spend his roughly $1.1 million in prize money as “irrationally as possible,” a reference to his research on how human foibles affect financial decisions. Which got us at MarketWatch thinking: What have previous Nobel Prize-winning economists done with their prize money? Some of the honorees study barely decipherable (for non-economists) topics such as “ search frictions ,” but their choices when it comes to their Nobel winnings reveal a more relatable side. Christopher Pissarides “It went into the bank and, as my old Irish professor used to say, it just fizzled away,” said 2010 winner Christopher Pissarides
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