... sometimes when you are asked a question that is difficult, the mind doesn't stay silent if it doesn't have the answer. The mind produces something, and what it produces very characteristically is the answer to an easier but related question.

There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people will exploit the opportunities available to them is very plausible, and it simplifies the analysis of how markets will behave.

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

We are far too willing to reject the belief that much of what we see in life is random.

That's one of the real dangers of leader selection in many organizations: leaders are selected for overconfidence.

One study found that people who just thought about watching their favorite movie actually raised their endorphin levels by 27 percent.

We are very influenced by completely automatic things that we have no control over, and we don't know we're doing it.