CLEAN : Nobel Economics prize goes to Richard Thaler

The video discusses the evolution of research directions, highlighting global collaboration in the Royal Academy of Sciences. It delves into how human psychology often deviates from rational models, with Richard Saylor pioneering the integration of psychological insights into economic analysis. This has led to the development of behavioral economics, which demonstrates how policies informed by this field can improve decision-making and make economics more human-centric.

What evidence has been gathered regarding human psychology's deviation from rational models?

What does it mean to make economics more human according to the text?