Group decisions often amplify biases rather than correct the... - Richard Thaler

"Group decisions often amplify biases rather than correct them, especially when everyone agrees too quickly."

Richard Thaler Leadership

Economist Psychologist American Born 1945 (age 81)

More from 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."

"A leader must be fair and just."

"Integrity is everything."

"One must take responsibility for one's environment."

"In this house, I make the decisions"