I try to teach people to make fewer mistakes. But in designing economic policies, we need to take full account of the fact that people are busy, they're absent minded, they're lazy, and that we should try to make things… — Richard Thaler Copy Share Image
The Nobel Prize is going to be 'fun money' - for an occasion, when my wife and I want a $50 bottle of wine. — Richard Thaler Copy Share
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… — Richard Thaler Copy Share
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 Copy Share
If people just put away what's left at the end of the month, that's a recipe for failure. — Richard Thaler Copy Share
The wealth in many large estates has never been taxed because it is largely in the form of unrealized - therefore untaxed - capital… — Richard Thaler Copy Share
The lesson of my field, behavioral economics, is that we need to understand the ways in which we differ from the rational human assumed… — Richard Thaler Copy Share
I think behavioral economists don't have any more of an explanation about the rise of Trump than anyone else. — Richard Thaler Copy Share
There are cases when I can make myself better off by restricting my future choices and commit myself to a specific course of action. — Richard Thaler Copy Share
For amateur golfers, I think one of the biggest mistakes is to model their play on professionals. — Richard Thaler Copy Share
he card companies will often, as a courtesy, honor that credit card, but hit you with a penalty. And you keep swiping your card… — Richard Thaler Copy Share
Social Security may be the most beloved of all the government's programs, partly because it requires so little thinking. You pay taxes while you… — Richard Thaler Copy Share
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… — Richard Thaler Copy Share
A nudge is some feature of the environment that changes the behaviour of humans but would not change the behaviour of rational economic agents,… — Richard Thaler Copy Share
One reason for high health care costs is that patients fail to follow their treatment regimen. — Richard Thaler Copy Share
