2017 Nobel Peace Prize in Economics Awarded for Treysta’s Way of Thinking
We at Treysta pride ourselves on offering an enlightened process, differentiating ourselves from the rest of the industry.
We understand the importance of psychology and how calling into account the way in which we make decisions about money can ultimately help lead us into living a life which is true to ourselves.
Some time ago we adopted and began to integrate the learning of 2002 Nobel Peace Prize winner in Economics, Daniel Kahneman.
Kahneman is often referred to as one of the most influential living psychologists with his work creating the field of behavioural economics.
His central message could not be more important, namely, that human reason left to its own devices is apt to engage in a number of fallacies and systematic errors, so if we want to make better decisions in our personal lives and as a society, we ought to be aware of these biases and seek workarounds. That’s a powerful and important discovery.
This new way of thinking gave rise to a new wave of behavioural psychologists – one of which (you may have seen in the movie The Big Short) is Richard Thaler, author of Nudge.
Richard Thaler – Nobel Peace Prize Winner 2017
Thaler is responsible for coining terms such as the “endowment effect”, a phenomenon whereby people tend to value things they already own, or created, more highly than matching objects on open sale.
Our enlightened way of thinking continues to be validated, most recently with the Nobel economics prize being awarded to Richard Thaler of the University of Chicago for his contributions to behavioral economics.
Not only does he embody the information we consume and academics we follow, his teachings are at the heart of how we believe to live a happy and fulfilling life, beyond just the numbers.