When Is the 99% Really the 5%?
…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….
Behavioral economists say “regret lotteries” are powerful motivational tools. When Philadelphia tried one in 2021, the results were disappointing. Bapu looks at how incentives can backfire — and what we…
Humans, it has long been thought, are the only animal to engage in economic activity. But what if we’ve had it exactly backward?
…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….
…more subtle one. I also knew about “anchoring” (which Richard Thaler speaks about in our “Mouse in the Salad” podcast). My mind was probably playing tricks on me with answers…
…“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…
…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:…
…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…
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…
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…
…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…
…Grossman Krugman Helpman P. Romer Phelps S. Grossman Newey Obsfeldt Rogoff Feldstein Kreps Posner Sutton Williamson K. Murphy Rabin Acemoglu Thaler Rajan Wilson Card Shleifer Jorgenson Pakes Mortensen Pissarides Tirole…
…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…
…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…
…by Richard Thaler and Cass Sunstein, in the book Mindless Eating by Brian Wansink, and in the books of the psychologist Robert Cialdini. Q. Let me begin by saying I…
…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…
…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….
…seriously each took Cassidy’s interviews.) Read them all, and come to your own judgments: Richard Posner Eugene Fama John Cochrane Gary Becker Jim Heckman Kevin Murphy Raghu Rajan Richard Thaler…
…other reasons as well. More generally, the economist Richard Thaler coined the phrase “mental accounts” to describe the way in which people seem to treat different assets as non-fungible, even…
…Paul Romer Sargent Shleifer Sutton Thaler Tirole Williamson Wilson If you believe your name (or someone else’s) deserves to be on it let me know and we can start a…
…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…
…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]…
…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…
…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),…
…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,…
…Cade Massey and Richard Thaler, who find top draft picks to be seriously overvalued. Consider the data presented in the interactive graphic here, which reveals the average draft position for…
…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…
…in the NFL doesn’t make much sense.? In fact, Massey and Richard Thaler argue that teams that get the first picks in the draft would be wise to trade out…
How do TV producers decide how much money to give away? A little psychology and a lot of math. Zachary Crockett phones a friend….
Tom Dart is transforming Cook County’s jail, reforming evictions, and, with Steve Levitt, trying a new approach to electronic monitoring….
Would you be more adventurous if you had more structure? Do you multitask while brushing your teeth? And what would Mike’s perfect brother Peter do?…
