Quote by Thaler, Richard

"Anchors matter. The first number you hear often becomes a reference point that influences all subsequent judgments."

Thaler, Richard
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."

All quotes by Thaler, Richard