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

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.

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. 

 

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

 

 

NOW WATCH: Watch billionaire CEO Jack Ma dance to Michael Jackson in full costume

 

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SEE ALSO: Meanwhile, former Fed chair Ben Bernanke was on 'The Big Bang Theory' a while back

 

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