Daily Archives: October 9, 2017

American Richard H. Thaler Wins Nobel Prize in Economic Science

American Richard H. Thaler was awarded the 2017 Nobel Prize for Economics — officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. The award committee said Thaler was chosen “for his contributions to behavioral economics.”   “By exploring the consequences of limited rationality, social preferences, and lack of self-control,” Thaler “has shown how these human traits systematically affect individual decisions as well as market outcomes,” the Swedish Academy said. Thaler developed the theory of “mental accounting,” explaining how people simplify financial decision-making by creating separate accounts in …

Pen Detects Cancer Almost Immediately in Lab Tests

Surgery plays a major role in diagnosing cancer and finding out how far it may have spread. But soon, instead of waiting for the lab results, surgeons could learn exactly where a tumor is located almost immediately, during surgery, using a device shaped like a pen. VOA’s Deborah Block reports. … From: MeNeedIt