Each additional child that you have is going to divide your time and your attention. You're going to have to cram them into a smaller house. They're going to have to share rooms, or you might have to move into the suburbs, somewhere cheaper, further away from where the job is.
Tim HarfordThe more grotesque your boss's pay and the less he has do to earn it, the bigger the motivation for you to work with the aim of being promoted to what he has.
Tim HarfordThere is much more to life than what gets measured in accounts. Even economists know that.
Tim HarfordSuccess Comes Through Rapidly Fixing our Mistakes Rather than Getting Things Right the First Time.
Tim HarfordLoss aversion is a really disproportionate anxiety about stuff that doesn't matter very much. So for instance, if you lose $5, you feel really bad about the $5 you've lost. You're cursing yourself. You're going through it again and again. If, on the other hand, you find $5, you go - hey, great, five bucks. And you've forgotten about it really quickly.
Tim Harford