And knowing what happens on average is a good place to start. By so doing, we insulate ourselves from the tendency to build our thinking - our daily decisions, our laws, our governance - on exceptions and anomalies rather than on reality
Steven LevittInformation is a beacon, a cudgel, an olive branch, a deterrent--all depending on who wields it and how.
Steven LevittMorality, it could be argued, represents the way that people would like the world to work, wheareas economics represents how it actually does work.
Steven LevittAfter all, your chances of winning a lottery and of affecting an election are pretty similar. From a financial perspective, playing the lottery is a bad investment. But it's fun and relatively cheap: for the price of a ticket, you buy the right to fantasize how you'd spend the winnings - much as you get to fantasize that your vote will have some impact on policy.
Steven Levitt