October 9, 2017 (August 20, 2017 in the lunar calendar), American economist Richard H. Taylor Nobel Prize in Economics. According to the official website of the Nobel Prize, on October 9, 2017 local time, the 2017 Nobel Prize in Economics was announced in Stockholm, Sweden. American economist Richard H. Taylor (also translated as Richard Siler) won the award. Richard Thaler of the University of Chicago won the award for his achievements in behavioral economics. Richard Thaler-founder of behavioral finance and professor at the University of Chicago. American nationality, born in New Jersey, born in 1945, graduated from the University of Rochester. Richard Siler was born in 1945 in New Jersey, USA. He obtained his Master of Arts (1970) and Doctor of Philosophy (1974) degrees in Rochester. He has taught at the University of Rochester (1971-1978) and Cornell University (1978-1995). Since 1995, he has served as Professor of Behavioral Science and Economics and Director of the Center for Decision Research at the Graduate School of Business at the University of Chicago. He is currently a member of the American Economic Association and a member of the American Academy of Arts and Sciences. He is an important representative figure in the fields of behavioral economics and behavioral finance. Thaler's main research areas are behavioral economics, behavioral finance and decision-making psychology. In behavioral finance, Thaler studied the impact of people's bounded rational behavior on financial markets and made many important contributions. Siler was a member of a committee led by Herbert Simon whose task was to present research reports on decision-making and problem solving to the president's science advisers. The Economics Prize is the "youngest" subject award in the Nobel Prize family. It was founded in 1968 and has been awarded annually since 1969. Other awards (physics, chemistry, physiology or medicine, literature, peace) have been awarded since 1901 shortly after the death of Alfred Nobel, the founder of the Nobel Prize. A more accurate name for the Nobel Prize in Economics is: The Swedish Bank commemorates the Alfred Nobel Prize in Economics, which honors scholars who have made important contributions in the field of economics. Funding comes from the Swedish central bank, and the amount is the same as other Nobel Prizes. The amount of this year's six Nobel Prizes is 9 million Swedish kronor, or more than 7.3 million yuan. The origin of the Nobel Prize in Economics From 1969 to 2017, a total of 48 economics prizes were awarded, of which 24 were awarded to an economist, 18 were shared by two winners, and the remaining 6 times, three scholars shared the highest academic honor in economics. Before today, there were a total of 78 Nobel Prize winners in Economics, and so far no scholar has won the Nobel Prize in Economics twice (or more). The average age of Economics Prize winners when they were awarded was 67, which is the oldest subject with the largest average age of Nobel Prize winners. The youngest recipient was Kenneth Arrow, who was only 51 years old when he was awarded the award. The oldest winner is Leonid Hervickz. He was 90 years old when he won the award in 2007 and is the oldest among all Nobel Prize winners to date. Only one woman, Eleanor Ostrom, has won the Nobel Prize in Economics so far. She won the award for economic governance analysis in 2009. The imbalance between male and female winners of the Economics Prize is also the most significant of all Nobel Prize fields. In 1968, the Bank of Sweden added the Economics Prize to commemorate Nobel. The full name is the "Swedish Bank Economics Prize in Memory of Alfred Nobel", also known as the Bank of Sweden Economics Award. The award was first awarded in 1969, more than half a century later than the establishment and awarding of other awards. The Nobel Prize in Economics is awarded by a jury composed of academicians of the Royal Swedish Academy of Sciences, which consists of 5 to 8 members. The Nobel Prize in Economics can be awarded to a single person or shared by up to three people. Its main purpose is to recognize the contributions made by relevant people in the fields of macroeconomics, microeconomics, and new economic analysis methods.