If rather than setting the minimum balance as the lowest possible amount, so we keep people in debt for as long as possible, we raise the minimum payment and encourage people to pay off their credit cards, we're going to make less money, but we're going to have costumers that are more solvent.
Richard ThalerRecall 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 ThalerI think we also have learned the lesson that we have to have better incentive structures.
Richard ThalerMost people start claiming benefits within a year of when they become eligible, although benefits increase substantially if they wait.
Richard Thaler