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

Richard Thaler

Richard Thaler

Profession: Economist
Nationality: American

Some suggestions for you :

For amateur golfers, I think one of the biggest mistakes is to model their play on professionals.

People make just as many mistakes when the stakes go up, maybe more.

When it comes to assessing the chances of some complicated combination of events, gut feelings are pretty much useless.

You can't make evidence-based policy decisions without evidence.

We behavioralists differ from our more traditional brethren in the way we characterize agents in the economy.

Companies are accumulating vast amounts of information about your likes and dislikes. But they are doing this not only because you're interesting. The more they know, the more money they can make.

Although the United States cannot unilaterally lower the price of oil, it can reduce its consumption by using oil more efficiently and by developing alternative sources of fuel.

The good thing I will say about the Chicago School is that it was always about the world, not about the abstract.

Tax cuts are one of many ways to stimulate the economy. Building infrastructure, for example, is another.

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

Academia does not provide many opportunities for immediate gratification. You work for two years on a project, it takes two more years to get it published, and then you start hoping someone might read it.

Payroll savings plans are vital because they are essentially the only way that middle-class Americans reliably save for retirement.

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.

As both a consumer and producer of newspaper articles, I have no beef with pay walls. But before signing up, I read the fine print.