We prefer certain outcomes to uncertain ones, even if expect... - Thaler, Richard

This quote is attributed to Thaler, Richard.

"We prefer certain outcomes to uncertain ones, even if expected value favors the gamble."

Thaler, Richard Fear

Behavioral Economist American Born 1945 (age 81)

More from Thaler, Richard

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

"The most important thing to understand about Behavioral Economics is that people are not rational."

"We are all vulnerable to cognitive biases."

"Humans are not the perfectly rational agents that standard economic theory assumes."

"Face your fears with courage."

"You can't live your life in fear."

"Snakes. Why'd it have to be snakes?"

"Fear is just another obstacle to overcome."