Richard Thaler Quotes

Most Famous Richard Thaler Quotes of All Time!

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Tort reform is a complicated subject and not a panacea.

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.

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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 work, then you and your spouse collect until you die.

Claiming that Social Security benefits are safe may sound naive, but my view is actually quite cynical. I believe that as long as the elderly continue to vote in large numbers, no Congress will renege on promised payouts for those...

Sunk costs? We pay too much attention to them.

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

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

'Fun money' is another thing that makes no sense to traditional economists. Because there's just money; there's no 'fun money.' It's all supposed to be the same.

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.

Countries all around the world, starting with the U.K., have started behavioural insight teams, often referred to as nudge units. And they seem to be doing lots of good.

I think behavioral economists don't have any more of an explanation about the rise of Trump than anyone else.

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...

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 think that individuals can.

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

It's not that we can predict bubbles - if we could, we would be rich. But we can certainly have a bubble warning system.

God did not say that you should be able to borrow one hundred percent of the price of a house.

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.

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