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The winner of this year's Nobel Prize in economics had a cameo next to Selena Gomez in 'The Big Short'

Oct 9, 2017, 20:48 IST

Economist Richard Thaler was awarded the 2017 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for his contributions to behavioral economics on Monday.

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It's generally considered to be the most prestigious prize for the field of economics.

In addition to his day job as an economist, Thaler once had a cameo appearance in the film "The Big Short," next to pop star Selena Gomez.

In the scene, Gomez explains the concept of the "hot hand fallacy," a key behavioral feature that drove the rise of synthetic collateralised debt obligations - one of the key drivers of the US subprime mortgage crisis in 2007.

"The Big Short" movie is based on Michael Lewis' book "The Big Short: Inside the Doomsday Machine" on the 2007-2008 financial crisis. 

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You can watch the scene in clip below starting around the 3:31 minute mark, courtesty of Youtube.

via GIPHY

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