Mental accounting is how people organize, evaluate, and proc... - Richard Thaler

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

Richard Thaler Money

Economist Psychologist American Born 1945 (age 81)

More from Richard Thaler

"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."

"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."