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" Companies are accumulating vast amounts of information about your likes and dislikes. But they are doing this not only because you're interesting. The more they know, the more money they can make. "

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" Morality aside, there are other factors deterring 'strategic defaults,' whether in recourse or nonrecourse states. These include the economic and emotional costs of giving up one's home and moving, the perceived social stigma of defaulting, and a serious hit to a borrower's credit rating. "

Richard Thaler

Moving

Home

Giving Up

" You can't make evidence-based policy decisions without evidence. "

" Don't get trapped by looking at what the price was that you paid for some stock originally. "

" Demanding that the rich get a tax cut as a condition for tax relief for others is simply elitist. "

" If you're not putting enough away for emergencies or retirement, making commitments in advance, such as signing up for payroll withholding, can help. "

Richard Thaler

Retirement

You

" It's hard to have any idea of how much money is enough to finance an appropriate lifestyle in retirement. But if a lump sum is translated into a monthly income, it's much easier to determine whether you have enough put away to afford to stop working. "

" Anybody who's ever been in a large organization realizes that 'optimizing' is not a word that would often be used to describe any large organization. The reason is that it's full of people, who are complicated. "

" The government employs scientists of many varieties in technical capacities, from estimating the environmental toxicity of a chemical to the structural soundness of a bridge. But when it comes to forming policies, these scientists and, especially, behavioral scientists are rarely at the table with the lawyers and the economists. "

" One of society's thorniest problems is that children from poor families start school lagging badly behind their more affluent classmates in readiness. "

" In a democracy, if a government creates bad policies, it can be voted out of office. Competition in the private sector, however, can easily work to encourage phishing rather than stifle it. "

" Academia does not provide many opportunities for immediate gratification. You work for two years on a project, it takes two more years to get it published, and then you start hoping someone might read it. "

" If the government can manage to collect and release personal information in a secure and useful way, so can private companies, which will empower consumers to become better shoppers. "

" I don't think it says anywhere in the Bible that tithing should be calculated on a before-tax basis. "

" Even a mother - Jewish or not - can't worry about everything. So it is important that we limit our worries to real as opposed to imaginary risks. "

" You go out on the practice range, and something kind of clicks, and you start hitting the ball very crisply. And you're sure that you've found it, the holy grail - that all you have to do is hold your hand in a certain way. Then you go out on the golf course, and it's completely disappeared. "

" Behavioral economics offers a plausible explanation for overreactions by the market. For example, a long period of bad performance can lead to stereotyping. "

" Even if we grade on a very generous curve, many Americans flunk when it comes to financial literacy. "

" We all need a lot of humility, and especially about the economy. "

" Claiming that Social Security benefits are safe may sound naive, but my view is actually quite cynical. I believe that as long as the elderly continue to vote in large numbers, no Congress will renege on promised payouts for those already eligible to receive benefits. "

" I think behavioral economists don't have any more of an explanation about the rise of Trump than anyone else. "

Richard Thaler

Economists

I Think

" If we think that high marginal tax rates are bad because they distort incentives, the same is then true for tax subsidies. "

" Although the United States cannot unilaterally lower the price of oil, it can reduce its consumption by using oil more efficiently and by developing alternative sources of fuel. "

" Tort reform is a complicated subject and not a panacea. "

" Shopping for an annuity with hundreds of thousands of dollars at stake can be daunting, even for an economist. "

" As both a consumer and producer of newspaper articles, I have no beef with pay walls. But before signing up, I read the fine print. "

" Economists discount any factors that would not influence the thinking of a rational person. "

" Payroll savings plans are vital because they are essentially the only way that middle-class Americans reliably save for retirement. "

" The Nobel Prize is going to be 'fun money' - for an occasion, when my wife and I want a $50 bottle of wine. "

" Many problems are so complex that even if we had the money to fix them, we wouldn't know how to do it. Fixing inner-city schools, reducing obesity, creating peace in the Middle East are just a few examples. "

" In the world of traditional economics, it shouldn't matter whether you use an opt-in or opt-out system. So long as the costs of registering as a donor or a nondonor are low, the results should be similar. But many findings of behavioral economics show that tiny disparities in such rules can make a big difference. "