Recall that people like to do what most people think it is right to do; recall too that people like to do what most people actually do.
Richard ThalerThe reason is they failed to learned the primary lesson we should have learned from when Long Term Capital Management went belly up ten years ago. That is, investments that seem uncorrelated can be correlated simply because we're interested in it.
Richard ThalerMost people start claiming benefits within a year of when they become eligible, although benefits increase substantially if they wait.
Richard Thaler