Mental accounting is how we organize, evaluate, and treat ou... - Thaler, Richard

This quote is attributed to Thaler, Richard.

"Mental accounting is how we organize, evaluate, and treat our financial activities. It's rarely optimal."

Thaler, Richard Money

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."

"Money is important, but it's not everything"

"Money doesn't buy happiness, but it buys things that make you forget you're unhappy."

"Money isn't everything."

"Money is meaningless without purpose."