Richard H. Thaler

“Overconfidence is a powerful force.”

— Richard H. Thaler

“discovery starts with anomalies.”

— Richard H. Thaler

“Bargains and Rip-Offs”

— Richard H. Thaler

“dumb principal” problems.”

— Richard H. Thaler

“I began to have deviant thoughts about economic theory while I was a graduate student”

— Richard H. Thaler

“professional money managers perform no better than simple market averages,”

— Richard H. Thaler

“The moral is that people are paying less attention to you than you believe.”

— Richard H. Thaler

“Generally, the higher the stakes, the less often we are able to practice.”

— Richard H. Thaler

“predictions can’t vary more than the thing being forecast.”

— Richard H. Thaler

“individual risk taking, especially in the domain of risks to life and health.”

— Richard H. Thaler

“People think about life in terms of changes, not levels.”

— Richard H. Thaler

“The core premise of economic theory is that people choose by optimizing.”

— Richard H. Thaler

“it is thought to be somehow related to Adam Smith’s invisible hand, the workings of which are both overstated and mysterious.”

— Richard H. Thaler

“The bigger lesson is that once you understand a behavioral problem, you can sometimes invent a behavioral solution to it. Mental”

— Richard H. Thaler

“Self-control issues are most likely to arise when choices and their consequences are separated in time.”

— Richard H. Thaler

“there is no question that social pressures nudge people to accept some pretty odd conclusions—and those conclusions might well affect their behavior.”

— Richard H. Thaler

“It is particularly hard for people to make good decisions when they have trouble translating the choices they face into the experiences…

— Richard H. Thaler

“It is usually good to provide people with lots of options, but when the question is complicated, sensible choice architecture guides people…

— Richard H. Thaler

“Many people have made money selling magic potions and Ponzi schemes, but few have gotten rich selling the advice, “Don’t buy that…

— Richard H. Thaler

“Libertarian paternalism is a relatively weak, soft, and nonintrusive type of paternalism because choices are not blocked, fenced off, or significantly burdened.”

— Richard H. Thaler

“Sometimes dessert really is delicious, and we do best to go for it. Sometimes it is best to fall in love. But…

— Richard H. Thaler

“Private relationships, intimate and otherwise, might be structured in many different ways, and the simple dichotomy between “single” and “married” does not…

— Richard H. Thaler

“Given that people would often choose not to choose, it is hard to see why freedom lovers should compel choice even though…

— Richard H. Thaler

“The evidence suggests that when people get a windfall—and this seems to be the way people think about their tax refund, despite…

— Richard H. Thaler

“Giving up the opportunity to sell something does not hurt as much as taking the money out of your wallet to pay…

— Richard H. Thaler

“The combination of loss aversion with mindless choosing implies that if an option is designated as the “default,” it will attract a…

— Richard H. Thaler

“research has shown that many couples entering marriage do not have anything like a clear idea of what generally happens, with respect…

— Richard H. Thaler

“The false assumption is that almost all people, almost all of the time, make choices that are in their best interest or…

— Richard H. Thaler

“When closed-end funds are started they are usually sold by brokers, who add a hefty commission of around 7% to the sale…

— Richard H. Thaler

“A third positive result even further from the traditional tool kit of financial incentives comes from a recent randomized control trial conducted…

— Richard H. Thaler

“Trayless cafeterias. Cafeteria managers have been taking a keen interest in reducing food waste. Seeing how easy it is to load up…

— Richard H. Thaler

“Not all urinals are fun and games, though. Take the “Piss Screen” (yes, that’s the name), also from Germany. It is a…

— Richard H. Thaler

“Two of the best restaurants in Chicago (Alinea and Charlie Trotter’s) give their diners the fewest choices. At Alinea diners just decide…

— Richard H. Thaler

“The money that has recently been won is called “house money” because in gambling parlance the casino is referred to as the…

— Richard H. Thaler

“14. Procrastinator’s Clock. For those who are chronically late to meetings, there’s the Procrastinator’s Clock, a downloadable program for your computer, that…

— Richard H. Thaler

“The first is that seemingly small features of social situations can have massive effects on people’s behavior; nudges are everywhere, even if…

— Richard H. Thaler

“losses hurt about twice as much as gains make you feel good.”

— Richard H. Thaler

“The more choices you give people, the more help with decision making you need to provide.”

— Richard H. Thaler

“The first misconception is that it is possible to avoid influencing people’s choices.”

— Richard H. Thaler

“this book has been written by a certifiably lazy man.”

— Richard H. Thaler