People will often accept a sure loss to avoid an uncertain o... - Richard Thaler

"People will often accept a sure loss to avoid an uncertain outcome, even when the expected value is worse."

Richard Thaler Fear

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."

"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."