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" We should at least make sure that patients are given the opportunity to opt out of spending their final days in a hospital, hooked up to tubes and running up enormous bills. "

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" 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

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

" The good thing I will say about the Chicago School is that it was always about the world, not about the abstract. "

" 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. "

" 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. "

" Signing up to be an organ donor should be at least as easy as downloading a song to your iPhone. "

" 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. "

" 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

" 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. "

" 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. "

" 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. "

" If governments want to encourage good citizenship, they should try making the desired behavior more fun. "

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

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

" One reason for high health care costs is that patients fail to follow their treatment regimen. "

Richard Thaler

Reason

Fail

" 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

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

" 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

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

" When it comes to my health, I would rather my doctor base her decisions on science rather than what she, or some lawyer, thinks will stand up in court. "

" 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. "

" Arthur Laffer's idea, that lowering taxes could increase revenues, was logically correct. If tax rates are high enough, then people will go to such lengths to avoid them that cutting taxes can increase revenues. What he was wrong about was in thinking that income tax rates were already so high in the 1970s that cutting them would raise revenues. "

Richard Thaler

Wrong

People

" 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. "

" 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

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

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

" The supply price and the demand price should be roughly the same. You're not supposed to have two different prices. According to economists. "

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

" If no estate tax is imposed, capital gains taxes can be avoided indefinitely. "

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