The main thing that you learn in grad school, or should learn, is how to think like an economist. The rest is just math.

Richard Thaler

Richard Thaler

Profession: Economist
Nationality: American

Some suggestions for you :

I have an agent, John Brockman, who is an agent to many academic authors like Dan Gilbert and Steven Pinker, and he's very good at conning academics into writing books. He pulled this trick on me.

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

Anybody who's ever been in a large organization realizes that 'optimizing' is not a word that would often be used to describe any large organization. The reason is that it's full of people, who are complicated.

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

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

If no estate tax is imposed, capital gains taxes can be avoided indefinitely.

Even a mother - Jewish or not - can't worry about everything. So it is important that we limit our worries to real as opposed to imaginary risks.

Shopping for an annuity with hundreds of thousands of dollars at stake can be daunting, even for an economist.

Demanding that the rich get a tax cut as a condition for tax relief for others is simply elitist.

In a democracy, if a government creates bad policies, it can be voted out of office. Competition in the private sector, however, can easily work to encourage phishing rather than stifle it.

Parents want their children to excel, callers to a victims' hot line want help, and sick people want to get well. Offering aids is like providing an alarm clock: it may help people get to an appointment on time, but no one is forcing them to use it.

We should at least make sure that patients are given the opportunity to opt out of spending their final days in a hospital, hooked up to tubes and running up enormous bills.

When employees are first eligible for a retirement savings plan, they should be enrolled unless they choose to opt out.

The ability of businesses to monitor our behavior is already a fact of life, and it isn't going away. Of course we must protect our privacy rights. But if we're smart, we'll also use the data that is being collected to improve our own lives.