Richard Thaler

"Mental accounting is how people organize, evaluate, and process financial activities."

"People are not always rational. We make systematic mistakes."

"The most important thing to realize is that we are all irrational some of the time."

"Behavioral economics is the study of human choice."

"We are not rational maximizers of our own utility."

"The best time to fix the roof is when the sun is shining."

"We overvalue what we own simply because we own it."

"Loss aversion is a powerful force in human behavior."

"Nudges can help people make better decisions without restricting their freedom."

"Choice architecture matters more than you think."

"Small changes can lead to big results when applied to systems."

"We are predictably irrational in consistent and systematic ways."

"The power of defaults cannot be overstated."

"Human judgment is subject to systematic biases."

"What gets measured gets done."

"Incentives matter, but so does human nature."

"We are not calculating machines; we are feeling beings."

"The way a choice is framed determines the choice we make."

"Fairness is not just an economic concept; it's deeply human."

"Self-control is a limited resource that gets depleted."

"We care about relative position, not absolute position."

"Time is the most precious resource we have."

"The status quo bias is one of the most powerful forces in decision-making."

"We are anchored by irrelevant information more often than we realize."

"Happiness comes from social connections, not from money alone."

"The peak-end rule explains how we remember experiences."

"Sunk costs should not influence future decisions, yet they always do."

"We underestimate the power of time and compound growth."

"Temptation and willpower are in constant battle."

"Good choice architecture can help us choose what we actually want."