Richard Thaler
Richard Thaler
Richard H. Thaleris an American economist and the Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business...
Richard Thaler quotes about
definition prices
The median person still thought that their prices were going to go up. That's the definition of a bubble.
cancer papers picking predicting school students subjects survival
There have been hundreds of papers on subjects from picking students for a school to predicting the survival of cancer patients.
thinking people reason
There's no reason to think that markets always drive people to what's good for them.
money ties gold
Why tie to gold? Why not 1982 Bordeaux?
differences car mind
Investors must keep in mind that there's a difference between a good company and a good stock. After all, you can buy a good car but pay too much for it.
retirement credit debt
Maybe you'll take the cash out. So a credit card company or a bank that goes into the business of saying we're going to be the broker, we're going to sell you a mortgage that you're going to be able to pay off, we're going to help you reduce your credit card debt, we're going to help you save for retirement, we're going to put you into mutual funds that have low fees rather than high fees.
choices action cases
There are cases when I can make myself better off by restricting my future choices and commit myself to a specific course of action.
rip naps years
Rip Van Winkle would be the ideal stock market investor: Rip could invest in the market before his nap and when he woke up 20 years later, he'd be happy. He would have been asleep through all the ups and downs in between. But few investors resemble Mr. Van Winkle. The more often an investor counts his money - or looks at the value of his mutual funds in the newspaper - the lower his risk tolerance.
optimistic skills people
People exaggerate their own skills. they are optimistic about their prospects and overconfident about their guesses, including which managers to pick.
years people waiting
Most people start claiming benefits within a year of when they become eligible, although benefits increase substantially if they wait.
thinking people recalls
Recall that people like to do what most people think it is right to do; recall too that people like to do what most people actually do.
retirement able should
Every American worker should be able to save for retirement via payroll deductions.
goal people want
My mantra is if you want to help people accomplish some goal, make it easy.
years saving tomorrow
There's a second component of a good savings plan, which is something that a colleague of mine called Schlomo Benartzi and I developed many years ago, that we call "save more tomorrow."