The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.

Mental effort, I would argue, is relatively rare. Most of the time we coast.

Although professionals are able to extract a considerable amount of wealth from amateurs, few stock pickers, if any, have the skill needed to beat the market consistently, year after year.

Most of the moments of our life - and I calculated, you know, the psychological present is said to be about three seconds long; that means that, you know, in a life there are about 600 million of them; in a month, there are about 600,000 - most of them don't leave a trace.

Often, the most enjoyable part of an activity is the anticipation.

Groups tend to be more extreme than individuals.

It doesn't take many observations to think you've spotted a trend, and it's probably not a trend at all.