…will “out-predict” official Bank of England predictions. “If these markets catch on, the government should consider outsourcing all of its forecasts to prediction markets instead of expert forecasters,” he said….
…half of Matt Kahn’s thoughtful predictions at MarginalRevolution made this list. Anyway, here is the list, which I put into alphabetical order: Barro Bernheim Card Doug Diamond Peter Diamond Dixit…
…understated liquidity. The newly founded American Association of Wine Economists has a 5-member board of directors (I’m disappointed and surprised to not find Richard Thaler among them) and an academic…
…market lost over 30 percent of its value. The $720 billion figure is also about the same magnitude as the amount of money the U.S. government has spent on the…
…a great example of what Thaler and Sunstein call libertarian paternalism in their great book, Nudge. The individual speakers retain the freedom to speak as long as they want, and…
…thinking they’re going faster than they are (an example of the “choice architecture” discussed in Thaler and Sunstein‘s Nudge). When we actually see signs to begin with, as we often…
…for sale in a tube station: And, in the Parliamentary Bookshop in Parliament Square, I spotted a single American book: Nudge, by Thaler and Sunstein (see earlier blog posts here),…
…“management.” But the 800-pound gorilla in the room is the opt-out scam that began this entire travail. In their recent best-selling book Nudge, Cass Sunstein and Richard Thaler show that…
…economist?), Nouriel Roubini is at 161, Paul Krugman is at 168, Nate Silver is at 181 (not an economist, but close enough), and Richard Thaler is at 184. One lesson…
…the growing influence of behavioral economists, the neuroscience behind various economic phenomena, and the research of George Akerlof and Robert Shiller, Cass Sunstein and Richard Thaler, and Andrew Lo. [%comments]…
It feels as if the whole world is suddenly enthralled with the potential of nudge-y incentives: using “choice architecture,” as the nudge-masters Thaler and Sunstein put it, to encourage behavior…
…forgetfulness. So Richard Thaler had an idea. Why not build an iPhone app to help people enlist as organ donors? That app, developed gratis, is available now. As to the…
…interview transcripts. All the interviews are with truly great economists. The very best come across as trying to build insight that is both rigorous and empirically relevant. But some come…
My friend Jimmy Golen, writing for the Associated Press, tackles that puzzling question. As another friend, the economist Richard Thaler, says in the piece: I cannot think of any good…
…as well as scholars whose work you’ve encountered on this blog and elsewhere: Richard Thaler, Justin Wolfers, Dan Hamermesh, Robert Shiller, Orley Ashenfelter, Robert Frank, Avinash Dixit, Alan Kreuger, George…
…and Moskowitz is writing a paper on this with Dick Thaler. Without revealing too much, it turns out that teams put more weight on these combine figures than they should….
…to gently guide people to save is one of the linchpins of Richard Thaler and Cass Sunstein‘s Nudge. Yes, Keep the Change leads to more savings in that Bank of…
…part in the exercise, although seeing how good the predictions have turned out, I’m going to assert (rightly or wrongly) that I was one of the predictors. For your entertainment,…
…have to think that his framing skills would be admired by Messrs. Tversky, Kahneman, and Thaler. If you’re looking for a somewhat headier argument about redistribution, you could try here….
…Thaler (author of Nudge ) discussed “anchoring,” a cognitive shortcut whereby we make decisions based on an anchoring number even if it is randomly generated. A new NBER paper (ungated…
…engagement by members in these elections and AEA activities. Here’s a list of this year’s candidates: For President-elect: Richard Thaler, The University of Chicago Booth School of Business For Vice-Presidents:…
…greater lengths to avoid losses than they will to experience the equivalent gain. (Danny Kahneman, author of Thinking, Fast and Slow , Amos Tversky, and Dick Thaler, co-author of Nudge,…
Real tax reform may or may not ever happen. In the meantime, how about making the current system work a bit better?
Tom Dart is transforming Cook County’s jail, reforming evictions, and, with Steve Levitt, trying a new approach to electronic monitoring….
The Power of Habit author Charles Duhigg wrote his new book in an attempt to learn how to communicate better. Steve shares how the book helped him understand his own…
How do TV producers decide how much money to give away? A little psychology and a lot of math. Zachary Crockett phones a friend….
…But when exactly did that price move start? Reader Chris Reed wrote in asking us to look into the possibility that there was insider trading in the prediction markets on…
Americans are so accustomed to the standard intersection that we rarely consider how dangerous it can be — as well as costly, time-wasting, and polluting. Is it time to embrace…
An expert on urban economics and co-author of the new book Survival of the City, Ed says cities have faced far worse than Covid. Steve talks with the Harvard professor…
Celebrity chef Alex Guarnaschelli joins us to co-host an evening of delicious fact-finding: where a trillion oysters went, whether a soda tax can work, and how beer helped build an…
