Even the most analytical thinkers are predictably irrational; the really smart ones acknowledge and address their irrationalities.

It is true that from a behavioral economics perspective we are fallible, easily confused, not that smart, and often irrational. We are more like Homer Simpson than Superman. So from this perspective it is rather depressing. But at the same time there is also a silver lining. There are free lunches!

None of us always make the best financial decisions.

I think we could get people to both be more productive and happier. We're less productive as individuals. We're less productive as companies, and we're more miserable.

The real issue is, how much goodwill do you invest in the work? And goodwill is not something that we can buy with money. It's very hard to buy goodwill with money.

that when given the opportunity, many honest people will cheat.

If we all make systematic mistakes in our decisions, then why not develop new strategies, tools, and methods to help us make better decisions and improve our overall well-being? That's exactly the meaning of free lunches- the idea that there are tools, methods, and policies that can help all of us make better decisions and as a consequence achieve what we desire-pg. 241