A Quote by Richard Thaler

Behavioral economics offers a plausible explanation for overreactions by the market. For example, a long period of bad performance can lead to stereotyping.

Richard Thaler

Quote Topics

Bad Bad Performance Behavioral Behavioral Economics Economics Example Explanation For Example Lead Long Long Period Market Offers Performance Period Plausible

Quote Author

Richard Thaler
American - Economist
Born: September 12, 1945

How could economics not be behavioral? If it isn't behavioral, what the hell is it?

Charlie Munger

In the world of traditional economics, it shouldn't matter whether you use an opt-in or opt-out system. So long as the costs of registering as a donor or a nondonor are low, the results should be similar. But many findings of behavioral economics show that tiny disparities in such rules can make a big difference.

Richard Thaler

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.

Richard Thaler

I took the obligatory economics classes in school, but I've long been a fan of the Milton Friedman philosophy and its libertarian bent: One must be free to do what one wants to do, as long as you don't harm another. This is the seminal treatise on free-market economics.

Charlie Trotter

I started to read as obsessively about Star Wars as I once did about Kant - and still do about behavioral economics and behavioral psychology.

Cass Sunstein

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.

Charlie Munger

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.

Cass Sunstein

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.

Lester Thurow

The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions.

Seth Klarman

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.

Richard Thaler

Science offers us an explanation of how complexity (the difficult) arose out of simplicity (the easy). The hypothesis of God offers no worthwhile explanation for anything, for it simply postulates what we are trying to explain. It postulates the difficult to explain, and leaves it at that.