Home
Authors
Tags
App
Get QuoteDark Inspirational Quotes App
" Sunk costs? We pay too much attention to them. "
Richard Thaler
Much
Costs
Attention
Related Quotes:
" Everyone knows it's dangerous to ingest gasoline or to inhale its fumes. But I am starting to believe that merely thinking about the price of gasoline can damage cognitive processing. "
Richard Thaler
Thinking
I Am
Dangerous
" The lesson of my field, behavioral economics, is that we need to understand the ways in which we differ from the rational human assumed in standard economic theory. "
Richard Thaler
Understand
Economics
Lesson
" If there is one thing that most economists agree about in the realm of tax policy, it is that it's best to broaden the base of any tax, all else being equal. That means minimizing the number of deductions and exclusions from taxable income in order to lower marginal rates and reduce distortions. "
Richard Thaler
Number
Tax
Best
" Behavioral economics offers a plausible explanation for overreactions by the market. For example, a long period of bad performance can lead to stereotyping. "
Richard Thaler
Performance
Bad
Economics
" 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. "
Richard Thaler
Government
Democracy
Work
" 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. "
Richard Thaler
Smart
Economics
Writing
" 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. "
Richard Thaler
Someone
You
Opportunities
" We could all use more coaching. "
Richard Thaler
More
Could
Coaching
" A nudge is some feature of the environment that changes the behaviour of humans but would not change the behaviour of rational economic agents, what we call Econs. "
Richard Thaler
Economic
Environment
Changes
" We behavioralists differ from our more traditional brethren in the way we characterize agents in the economy. "
Richard Thaler
Our
Economy
Way
" It is true that I am one of the co-authors of 'Nudge,' and I am a behavioral economist, but it does not mean that everything we write about in that book is behavioral economics, nor does it mean that my co-author, the distinguished legal scholar Cass Sunstein, is a behavioral economist. "
Richard Thaler
Book
Economics
True
" High school seniors should receive help in how to think about a student loan and how to make sure that the education bought with the loan offers good prospects for repayment. "
Richard Thaler
Think
School
Good
" 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. "
Richard Thaler
Parents
Children
People
" The good thing I will say about the Chicago School is that it was always about the world, not about the abstract. "
Richard Thaler
Say
Good
Chicago
" 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. "
Richard Thaler
Used
Complicated
Organization
" 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
" Even if we grade on a very generous curve, many Americans flunk when it comes to financial literacy. "
Richard Thaler
Financial
Curve
Generous
" I don't think it says anywhere in the Bible that tithing should be calculated on a before-tax basis. "
Richard Thaler
Think
Calculated
Bible
" For amateur golfers, I think one of the biggest mistakes is to model their play on professionals. "
Richard Thaler
I Think
Model
Play
" The ability of businesses to monitor our behavior is already a fact of life, and it isn't going away. Of course we must protect our privacy rights. But if we're smart, we'll also use the data that is being collected to improve our own lives. "
Richard Thaler
Behavior
Smart
Privacy
" 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. "
Richard Thaler
Trials
Turn
Down
" 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
" 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. "
Richard Thaler
Pay
Producer
Walls
" Don't get trapped by looking at what the price was that you paid for some stock originally. "
Richard Thaler
Trapped
Paid
Looking
" You can't make evidence-based policy decisions without evidence. "
Richard Thaler
Evidence
Make
You
" We humans actually need help controlling our impulses - nudges. "
Richard Thaler
Humans
Our
Need
" Pundits are no better at forecasting election outcomes than they would be at predicting the final path of a hurricane. Smart pundits should consider either abandoning this activity or consulting with the geeks before rendering their guesses. "
Richard Thaler
Path
Smart
Hurricane
" If you want to encourage some activity, make it easy. "
Richard Thaler
You
Activity
Easy
" I practice what has come to be called behavioral economics. "
Richard Thaler
Come
Economics
Behavioral
" 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