A Quote by Cass Sunstein
I started to read as obsessively about Star Wars as I once did about Kant - and still do about behavioral economics and behavioral psychology.
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It is true that I am one of the co-authors of 'Nudge,' and I am a behavioral economist, but it does not mean that everything we write about in that book is behavioral economics, nor does it mean that my co-author, the distinguished legal scholar Cass Sunstein, is a behavioral economist.
How should the best parts of psychology and economics interrelate in an enlightened economist's mind?... I think that these behavioral economics...or economists are probably the ones that are bending them in the correct direction. I don't think it's going to be that hard to bend economics a little to accommodate what's right in psychology.
Drugs are about dulling perception, about addiction and about behavioral repetition...What *psychedelics* are about is pattern- dissolving experiences of an extraordinarily high or different awareness. They are the exact opposite of drugs. They promote questioning , they promote consciousness, they promote value examinations, they promote the reconstruction of behavioral patterns.
How could economics not be behavioral? If it isn't behavioral, what the hell is it?
I talked to George Lucas once, not about Star Wars. Everyone wants to talk to him about Star Wars, and I didn't want to be one of those people. In person - at least on this occasion - he wasn't effervescent and giddy, as the Star Wars movies are. He's more focused.
The sad truth is that many behavioral economists know very little about psychology.
The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
Retirement savings is probably behavioral economists' greatest success story. It is a prototypical behavioral-economics problem because saving for retirement is cognitively hard - figuring out how much to save - and requires self-control.
When I read about genetics, I see breakthroughs every day. And while I'm trying to learn more about behavioral science, I must say that I don't feel I get tremendous intellectual stimulation from most of the things I read.
There is behavioral ecology, which looks closely at the difference different ecologies make to behavior and other features of animals and humans. There's evolutionary individual psychology, there's evolutionary social psychology. In Darwin's terms, evolution couldn't exist without variation, and variation is important in behavioral genetics. And so on, and so on. There are so many instances in which evolution actually sharpens the precision, I think, with which one can find out the importance of differences. We're interested in differences as well as commonalities.
Obi-Wan understands that the best thing he can do is contribute something positive to the world around him and then to leave. And if he does that, he will in some ways live forever because the good influence of what he did will be felt. It may sound corny but that's kind of the way I feel about contributing to Star Wars characters. It isn't about me. It's about the story. It's about the mythology of Star Wars and the moral implications of that mythology.
One of the peculiarities of economics is that it still rests on a behavioral assumption-rational utility maximization-that has long since been rejected by sociologists and psychologists.
In psychology and behavioral economics, people have shown that if you just describe options in a certain way, or make some features of a situation salient, you can get people to do and even see what you want. You don't have to be a Jedi to manipulate people's attention.
I love Richard Thaler's 'Quasi Rational Economics.' A collection of some of his most interesting and inventive essays, the real foundation of behavioral economics.
My friends and family are not really fixated on the specifics of 'Star Wars.' My parents don't know anything about 'Star Wars.' They've never watched a 'Star Wars' film.
I practice what has come to be called behavioral economics.
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