Small costs can have large effects. Even tiny friction can s... - Richard Thaler

"Small costs can have large effects. Even tiny friction can stop people from doing something valuable."

Richard Thaler Work

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."

"Hard work never killed anybody."

"Work with purpose and integrity."

"Hard work pays off in the end."

"A man's gotta do what a man's gotta do."