Most people start claiming benefits within a year of when they become eligible, although benefits increase substantially if they wait.

Maybe you'll take the cash out. So a credit card company or a bank that goes into the business of saying we're going to be the broker, we're going to sell you a mortgage that you're going to be able to pay off, we're going to help you reduce your credit card debt, we're going to help you save for retirement, we're going to put you into mutual funds that have low fees rather than high fees.

I think the people who've been the most overconfident in our business in the last decade have been the people that called themselves risk managers.

So, what's a nudge? A nudge is some small feature of the environment that attracts our attention and alters our behavior.

Is there a market for somebody selling a credit card that helps people pay down their balances? I think the question is yes. But it would have to be sold by a bank that's really willing to invest in being a trusted partner with its consumers, because they will make less money on each consumer.

When an economist says the evidence is "mixed," he or she means that theory says one thing and data says the opposite.

People exaggerate their own skills. they are optimistic about their prospects and overconfident about their guesses, including which managers to pick.