We can't live in a state of perpetual doubt, so we make up the best story possible and we live as if the story were true.

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

Experts don't know exactly where the boundaries of their expertise are.

I have always emphasized the willingness to discard.

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.

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

Laziness is built deep into our nature.