Sublime

The false assumption is that almost all people, almost all of the time, make choices that are in their best interest or at the very least are better than the choices that would be made by someone else. We claim that this assumption is false—indeed, obviously false. In fact, we do not think that anyone believes it on reflection. Suppose that a chess

choice engine

The narrow framing of single evaluation allowed dolphins to have a higher intensity score, leading to a high rate of contributions by intensity matching. Joint evaluation changes the representation of the issues: the “human vs. animal” feature becomes salient only when the two are seen together. In joint evaluation people show a solid preference fo

Imagine that you have decided to see a movie and have paid the admission price of $10 per ticket. As you enter the theater, you discover that you have lost the ticket. The seat was not marked, and the ticket cannot be recovered. Would you pay $10 for another ticket? When Thaler conducted this survey, he found that only 46 percent of people would bu

With respect to health, romance, and money, it is not at all hard to exploit people’s lack of information.

Citizens who were nudged by the government and advertisements to become their own portfolio managers steadfastly stuck with that approach, but then they became highly passive.

Loss aversion has a lot of relevance to public policy. If you want to discourage the use of plastic bags, should you give people a small amount of money for bringing their own reusable bag, or should you ask them to pay the same small amount for a plastic bag?

Dennis figured out how to profit in the real world from an understanding of behavioral finance decades before Nobel prizes were handed out to professors preaching theory.