Princeton University economist who was awarded the Nobel prize in economics. In 2003 he developed a "rational inattention" model, in which optimising agents can process only so much information at a time. The model explains the smooth (rather than instant) adjustment of various macroeconomic variables, including interest rates and prices, to new information: people sensibly devote just a portion of their limited attention to learning about market-moving news.
His work built on Herbert Simon's concept of bounded rationality and helped lay the foundations of attention economics.
Nature abhors dimensional abnormalities, and seals them neatly away so that they don't upset people. Nature, in fact, abhors a lot of things, including vacuums, ships called the "Marie Celeste", and the chuck keys for electric drills.