Home
Authors
Tags
App
Get QuoteDark Inspirational Quotes App
" You can't make evidence-based policy decisions without evidence. "
Richard Thaler
Evidence
Make
You
Related Quotes:
" We behavioralists differ from our more traditional brethren in the way we characterize agents in the economy. "
Richard Thaler
Our
Economy
Way
" We humans actually need help controlling our impulses - nudges. "
Richard Thaler
Humans
Our
Need
" Signing up to be an organ donor should be at least as easy as downloading a song to your iPhone. "
Richard Thaler
Should
Song
iPhone
" We all need a lot of humility, and especially about the economy. "
Richard Thaler
Economy
Humility
Lot
" 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
" 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
" Even if we grade on a very generous curve, many Americans flunk when it comes to financial literacy. "
Richard Thaler
Financial
Curve
Generous
" 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
" 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
" 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
" Coining a term is not the same as creating a field! "
Richard Thaler
Term
Creating
Field
" Real people have trouble balancing their checkbooks, much less calculating how much they need to save for retirement; they sometimes binge on food, drink, or high-definition televisions. They are more like Homer Simpson than Mr. Spock. "
Richard Thaler
Need
Retirement
Trouble
" 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
" 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
" The tradition of Chicago price theory is a good one, and it is a low-tech methodology that tries to apply simple economic theory to the world. "
Richard Thaler
Simple
Chicago
Tradition
" 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
" I practice what has come to be called behavioral economics. "
Richard Thaler
Come
Economics
Behavioral
" When employees are first eligible for a retirement savings plan, they should be enrolled unless they choose to opt out. "
Richard Thaler
Employees
Out
Choose
" As every successful parent learns, one way to encourage good behavior, from room-cleaning to tooth-brushing, is to make it fun. Not surprisingly, the same principle applies to adults. Adults like to have fun, too. "
Richard Thaler
Good
Parent
Have Fun
" The supply price and the demand price should be roughly the same. You're not supposed to have two different prices. According to economists. "
Richard Thaler
Demand
Price
Two
" 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 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
" 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. "
Richard Thaler
Government
Environmental
Table
" 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
Bubble
Warning
" The main thing that you learn in grad school, or should learn, is how to think like an economist. The rest is just math. "
Richard Thaler
Think
Like
School
" We could all use more coaching. "
Richard Thaler
More
Could
Coaching
" 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. "
Richard Thaler
Lawyers
Government
Advice
" Payroll savings plans are vital because they are essentially the only way that middle-class Americans reliably save for retirement. "
Richard Thaler
Retirement
Plans
Way
" It's essential that we understand things like the free-rider problem, but we also need to understand that, fortunately, humans are a little nicer than economists give them credit for. Some people actually leave money at roadside fruit stands; some people give money to NPR so we can listen to it. "
Richard Thaler
Problem
People
Fruit
" 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