It's very easy for trusted companies to mislead naive customers, and life insurance companies are trusted.

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

One of the problems with expertise is that people have it in some domains and not in others.

Doubting what you see is a very odd experience. And doubting what you remember is a little less odd than doubting what you see. But it's also a pretty odd experience, because some memories come with a very compelling sense of truth about them, and that happens to be the case even for memories that are not true.

Policy makers, like most people, normally feel that they already know all the psychology and all the sociology they are likely to need for their decisions. I don't think they are right, but that's the way it is.

Intuitive diagnosis is reliable when people have a lot of relevant feedback. But people are very often willing to make intuitive diagnoses even when they're very likely to be wrong.

It's very easy for trusted companies to mislead naive customers, and life insurance companies are trusted.