So the world is much more correlated than we give credit to. And so we see more of what Nassim Taleb calls "black swan events" - rare events happen more often than they should because the world is more correlated.
Richard ThalerI'm all for empowerment and education, but the empirical evidence is that it doesn't work. That's why I say make it easy.
Richard ThalerThere are cases when I can make myself better off by restricting my future choices and commit myself to a specific course of action.
Richard ThalerMost people start claiming benefits within a year of when they become eligible, although benefits increase substantially if they wait.
Richard Thaler