Banks are run by executives, and executives protect themselves, and that does not always mean that banks are going to behave rationally.

Most people are highly optimistic most of the time.

We have associations to things. We have, you know, we have associations to tables and to - and to dogs and to cats and to Harvard professors, and that's the way the mind works. It's an association machine.

Economists think about what people ought to do. Psychologists watch what they actually do.

One thing we have lost, that we had in the past, is a sense of progress, that things are getting better. There is a sense of volatility, but not of progress.

It's not a case of: 'Read this book and then you'll think differently. I've written this book, and I don't think differently.

The illusion that we understand the past fosters overconfidence in our ability to predict the future.