I think we also have learned the lesson that we have to have better incentive structures.
Richard Thalerhe card companies will often, as a courtesy, honor that credit card, but hit you with a penalty. And you keep swiping your card for $3 at Starbucks for your lattรฉ, and you're getting hit with a $25 penalty because it's over your credit limit.
Richard Thaler"Save more tomorrow" is a nudge to help people do what they know they want to do, which is save more, but they can't bring themselves to save more now. Just like many of us are planning to go on diets next month, or maybe in two months, certainly not tonight.
Richard ThalerInvestors 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.
Richard Thaler