One simple step firms can take is make sure that people that are getting paid a lot of money, say more than a million or two, that a big chunk of that money is deferred. That's going to change the whole ballgame.
Richard ThalerIf people just put away what's left at the end of the month, that's a recipe for failure.
Richard ThalerWhen should we nudge and when should we shove, I think, it's a political judgment. Obviously in some situations we need shoves, we need laws. Fraud is against the law, murder is against the law, drunk-driving is against the law. We don't need just nudges.
Richard Thalerhe card companies will often, as a courtesy, honor that credit card, but hit you with a penalty. And you keep swiping your card for $3 at Starbucks for your lattรฉ, and you're getting hit with a $25 penalty because it's over your credit limit.
Richard Thaler