Get QuoteDark Inspirational Quotes App

" 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. "

Related Quotes:

" 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

" Whenever I'm asked to autograph a copy of 'Nudge,' the book I wrote with Cass Sunstein, the Harvard law professor, I sign it, 'Nudge for good.' Unfortunately, that is meant as a plea, not an expectation. "

" Coining a term is not the same as creating a field! "

" It makes sense for social scientists to become more involved in policy because many of society's most challenging problems are, in essence, behavioral. "

Richard Thaler

Society

Become

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

" 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. "

" 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. "

" Most of us think that we are 'better than average' in most things. We are also 'miscalibrated,' meaning that our sense of the probability of events doesn't line up with reality. When we say we are sure about a certain fact, for example, we may well be right only half the time. "

" Parents want their children to excel, callers to a victims' hot line want help, and sick people want to get well. Offering aids is like providing an alarm clock: it may help people get to an appointment on time, but no one is forcing them to use it. "

" In the 1940s, economics started getting highly mathematical. It was basically because economists weren't smart enough to write down models of real behavior that they started writing down models of highly rational behavior - and they kind of forgot about humans. "

" 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. "

" 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. "

" Lotteries are just one way to provide positive reinforcement. Their power comes from the fact that the chance of winning the prize is overvalued. "

" 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. "

" 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. "

" I practice what has come to be called behavioral economics. "

" When employees are first eligible for a retirement savings plan, they should be enrolled unless they choose to opt out. "

" The more we turn down questionable offers like trip insurance and scrutinize 'one month' trials, the less incentive companies will have to use such schemes. "

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

" As a general rule, the United States government is run by lawyers who occasionally take advice from economists. Others interested in helping the lawyers out need not apply. "

" 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. "

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

" 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. "

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

" 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. "

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

" 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

Doing

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

" 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

" For amateur golfers, I think one of the biggest mistakes is to model their play on professionals. "