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Richard Thaler Quotes


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Quotes by Richard Thaler

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Coining a term is not the same as creating a field!

~Richard Thaler

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We could all use more coaching.

~Richard Thaler

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Fortunately, economists open to new ways of thinking are finding novel ways to use supposedly irrelevant factors to make the world a better place.

~Richard Thaler

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Here is a guiding principle: If a business collects data on consumers electronically, it should provide them with a version of that data that is easy to download and export to another Web site.

~Richard Thaler

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If you want to encourage some activity, make it easy.

~Richard Thaler

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'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.

~Richard Thaler

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The government employs scientists of many varieties in technical capacities, from estimating the environmental toxicity of a chemical to the structural soundness of a bridge. But when it comes to forming policies, these scientists and, especially, behavioral scientists are rarely at the table with the lawyers and the economists.

~Richard Thaler

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In the 1940s, economics started getting highly mathematical. It was basically because economists weren't smart enough to write down models of real behavior that they started writing down models of highly rational behavior - and they kind of forgot about humans.

~Richard Thaler

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For many people, being asked to solve their own retirement savings problems is like being asked to build their own cars.

~Richard Thaler

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Real people have trouble balancing their checkbooks, much less calculating how much they need to save for retirement; they sometimes binge on food, drink, or high-definition televisions. They are more like Homer Simpson than Mr. Spock.

~Richard Thaler

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Biography

Nationality: American

Type: Economist

Born: September 12th, 1945

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