One reason for high health care costs is that patients fail to follow their treatment regimen.
When it comes to assessing the chances of some complicated combination of events, gut feelings are pretty much useless.
I don't think it says anywhere in the Bible that tithing should be calculated on a before-tax basis.
If we think that high marginal tax rates are bad because they distort incentives, the same is then true for tax subsidies.
Shopping for an annuity with hundreds of thousands of dollars at stake can be daunting, even for an economist.
You can't make evidence-based policy decisions without evidence.
If you want to encourage some activity, make it easy.
If governments want to encourage good citizenship, they should try making the desired behavior more fun.
Demanding that the rich get a tax cut as a condition for tax relief for others is simply elitist.
Tax cuts are one of many ways to stimulate the economy. Building infrastructure, for example, is another.
Leaders are important but not omnipotent.
If no estate tax is imposed, capital gains taxes can be avoided indefinitely.
Even if we grade on a very generous curve, many Americans flunk when it comes to financial literacy.
People make just as many mistakes when the stakes go up, maybe more.
We could all use more coaching.
For amateur golfers, I think one of the biggest mistakes is to model their play on professionals.
Coining a term is not the same as creating a field!
The sad truth is that many behavioral economists know very little about psychology.
We humans actually need help controlling our impulses - nudges.
We all need a lot of humility, and especially about the economy.
The main thing that you learn in grad school, or should learn, is how to think like an economist. The rest is just math.
The good thing I will say about the Chicago School is that it was always about the world, not about the abstract.
God did not say that you should be able to borrow one hundred percent of the price of a house.
It's not that we can predict bubbles - if we could, we would be rich. But we can certainly have a bubble warning system.
Don't get trapped by looking at what the price was that you paid for some stock originally.
I think behavioral economists don't have any more of an explanation about the rise of Trump than anyone else.
The Nobel Prize is going to be 'fun money' - for an occasion, when my wife and I want a $50 bottle of wine.
Sunk costs? We pay too much attention to them.
Tort reform is a complicated subject and not a panacea.
Signing up to be an organ donor should be at least as easy as downloading a song to your iPhone.
