Choices Quote by John Rawls

“The economics we need is of the "seminar room" variety, not the "rule-of-thumb" kind. It is an economics that recognizes its limitations and caveats…

— Dani Rodrik

In my opinion, economists and sociologists are the people to whom we ought to turn more than we do for instruction in the grounds…

— Oliver Wendell Holmes, Jr

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

“Standard economics assumes that we are rational... But, as the results presented in this book (and others) show, we are far less rational in…

— Dan Ariely

Researchers may like to think that, given all the facts, we make rational choices. Ask economists how that assumption works out for them. No,…

— Kyle Hill

“It is telling commentary on economic orthodoxy that a whole subdiscipline--behavioral economics--and a raft of lab experiments are needed to show that humans often…

— Kaushik Basu

We are all far less rational in our decision-making than standard economic theory assumes. Our irrational behaviors are neither random nor senseless: they are…

— Dan Ariely

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

— Richard H. Thaler

“Cognitive scientists recognize two types of rationality: instrumental and epistemic. The simplest definition of instrumental rationality-the one that emphasizes most that it is grounded…

— Keith E. Stanovich

It is the business of economists, not to tell us what to do, but show why what we are doing anyway is in accord…

— Joan Robinson

There is a moral underpinning to economics. And the kinds of questions that it asks and the kinds of solutions it proposes do seem…

— John Lanchester

“Wouldn't economics make a lot more sense if it were based on how people actually behave, instead of how they should behave?”

— Dan Ariely