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" 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. "
Richard Thaler
Empower
Better
Information
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" You can't make evidence-based policy decisions without evidence. "
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" Here is a guiding principle: If a business collects data on consumers electronically, it should provide them with a version of that data that is easy to download and export to another Web site. "
Richard Thaler
Principle
Web
Easy
" It's not that we can predict bubbles - if we could, we would be rich. But we can certainly have a bubble warning system. "
Richard Thaler
Bubbles
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Warning
" 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. "
Richard Thaler
Fuel
Price
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" 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. "
Richard Thaler
Know
Problems
Money
" The lesson for businesses is you are dealing with real people. Those are your customers, those are your employees, those are your bosses, and the better you understand how real people tick, the more successfully you will be able to accomplish your goals. "
Richard Thaler
Employees
You
People
" Coining a term is not the same as creating a field! "
Richard Thaler
Term
Creating
Field
" For many people, being asked to solve their own retirement savings problems is like being asked to build their own cars. "
Richard Thaler
Build
People
Problems
" I think behavioral economists don't have any more of an explanation about the rise of Trump than anyone else. "
Richard Thaler
More
Economists
I Think
" God did not say that you should be able to borrow one hundred percent of the price of a house. "
Richard Thaler
Percent
You
God
" Doctors and hospitals should be paid for keeping their patients well. Paying them for doing more tests and surgeries creates bad incentives. "
Richard Thaler
Paid
More
Doing
" My thesis topic was 'The value of a human life.' I asked people a question: 'Suppose you had some risk, a one in a thousand risk of dying - how much would you pay to eliminate it?' "
Richard Thaler
People
Life
Dying
" The sad truth is that many behavioral economists know very little about psychology. "
Richard Thaler
Truth Is
Know
Psychology
" Lotteries are just one way to provide positive reinforcement. Their power comes from the fact that the chance of winning the prize is overvalued. "
Richard Thaler
Way
Power
Positive
" 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. "
Richard Thaler
World
Economics
You
" Tort reform is a complicated subject and not a panacea. "
Richard Thaler
Reform
Subject
Panacea
" If we think that high marginal tax rates are bad because they distort incentives, the same is then true for tax subsidies. "
Richard Thaler
Same
High
Bad
" The voting public is not very good at attributing credit and blame to presidents. They get too much credit when things go well and too much blame when things go badly. The same applies to coaches, C.E.O.'s, parents, and anyone else in charge. "
Richard Thaler
Blame
Credit
Go
" For amateur golfers, I think one of the biggest mistakes is to model their play on professionals. "
Richard Thaler
I Think
Model
Play
" 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
Up
You
" I practice what has come to be called behavioral economics. "
Richard Thaler
Come
Economics
Behavioral
" If you're trading individual securities, you're almost certainly making a mistake. Because most professional managers can't outperform their benchmarks, and there's little reason to think that individuals can. "
Richard Thaler
You
Professional
Think
" There's a reason why start-ups, especially disruptive start-ups - like Google or Amazon or Uber - are full of young people. That's because young people are not as wedded to the old fashioned ways of doing things. "
Richard Thaler
Doing
Young
Reason
" I have an agent, John Brockman, who is an agent to many academic authors like Dan Gilbert and Steven Pinker, and he's very good at conning academics into writing books. He pulled this trick on me. "
Richard Thaler
Me
Writing
Like
" 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. "
Richard Thaler
Money
You
Enough
" Fortunately, economists open to new ways of thinking are finding novel ways to use supposedly irrelevant factors to make the world a better place. "
Richard Thaler
Place
Finding
Better
" Don't get trapped by looking at what the price was that you paid for some stock originally. "
Richard Thaler
Trapped
Paid
Looking
" People are less likely to think it's immoral to walk away from their home if they know others who have done so. And if enough people do it, the stigma begins to erode. "
Richard Thaler
Know
Home
Enough
" We could all use more coaching. "
Richard Thaler
More
Could
Coaching
" In some ways, the finding that financial education doesn't provide long-term payoffs is hardly surprising. After all, how much do you remember from your high school chemistry class? Unless you use chemistry at work, you probably don't recall much about ionic bonding. "
Richard Thaler
Education
Financial
Work