Quotes About Behavioral

One of the causes of status quo bias is a lack of attention. Many people adopt what we will call the "yeah, whatever" heuristic.

quasi-hyperbolic discounting.

Bargains and Rip-Offs

Economists have not always been so dense about self-control problems. For roughly two centuries, the economists who wrote on this topic knew their Humans. In fact, an early pioneer of what we would now call a behavioral treatment of self-control was none other than the high priest of free market economics: Adam Smith. When most people think about Adam Smith, they think of his most famous work, The Wealth of Nations

dumb principal" problems.

app we particularly like is called Tally.13 (Full disclosure: Tally was started by Jason Brown, who, when he was a student at the University of Chicago Booth School of Business, took Thaler's class. We have no financial stake in his company.)

If people are running risks because of unrealistic optimism, they might be able to benefit from a nudge. In fact, we have already mentioned one possibility: if people are reminded of a bad event, they may not continue to be so optimistic. Gains

The fact that a loss hurts more than an equivalent gain gives pleasure is called loss aversion. It has become the single most powerful tool in the behavioral economist's arsenal.

When all economists are equally open-minded and are willing to incorporate important variables in their work, even if the rational model says those variables are supposedly irrelevant, the field of behavioral economics will disappear. All economics will be as behavioral as it needs to be. And those who have been stubbornly clinging to an imaginary world that consists only of Econs will be waving a white flag, rather than an invisible hand.

Loss aversion produces inertia, meaning a strong desire to stick with your current holdings. Loss aversion operates as a kind of cognitive nudge, pressing us not to make changes, even when changes are very much in our interests.

A nudge, as we will use the term, is any aspect of the choice architecture that alters people's behavior in a predictable way without forbidding any options or significantly changing their economic incentives. To count as a mere nudge, the intervention must be easy and cheap to avoid. Nudges are not mandates.

As we have come to understand the psychology of evil, we have realized that such transformations of human character are not as rare as we would like to believe. Historical inquiry and behavioral science have demonstrated the "banality of evil" -- that is, under certain conditions and social pressures, ordinary people can commit acts that would otherwise be unthinkable.

Serving up ads based on behavioral targeting can itself be an invasion of privacy, especially when the information used is personal.

The NLP process of modeling, for example, involves making a map of a person's patterns of behavior, which may then be applied in various ways.

The health risk of poverty turns out to be a huge effect, the biggest risk factor there is in all of behavioral medicine—in other words, if you have a bunch of people of the same gender, age, and ethnicity and you want to make some predictions about who is going to live how long, the single most useful fact to know is each person's SES.

Most child behavioral development research is implicitly stage oriented, concerning: (a) the sequence with which stages emerge; (b) how experience influences the speed and surety with which that sequential tape of maturation unreels; and (c) how this helps create the adult a child ultimately becomes.

Some children may need a behavioral approach, whereas other children may need a sensory approach.

In the world of traditional economics, it shouldn't matter whether you use an opt-in or opt-out system. So long as the costs of registering as a donor or a nondonor are low, the results should be similar. But many findings of behavioral economics show that tiny disparities in such rules can make a big difference.

It is true that I am one of the co-authors of 'Nudge,' and I am a behavioral economist, but it does not mean that everything we write about in that book is behavioral economics, nor does it mean that my co-author, the distinguished legal scholar Cass Sunstein, is a behavioral economist.

The government employs scientists of many varieties in technical capacities, from estimating the environmental toxicity of a chemical to the structural soundness of a bridge. But when it comes to forming policies, these scientists and, especially, behavioral scientists are rarely at the table with the lawyers and the economists.

I've learned that leadership requires a number of qualities. It's behavioural, tactical, technical, about communication... everyone has these to varying degrees. I try to encourage players to show theirs.

He defines co—dependency as: "an emotional, psychological, and behavioral condition that develops as a result of an individual's prolonged exposure to, and practice of, a set of oppressive rules—rules which prevent the open expression of feeling, as well as the direct discussion of personal and interpersonal problems."3

To help people achieve the three basic REBT philosophies of unconditional self-acceptance, unconditional other-acceptance, and unconditional life-acceptance, cognitive, emotional, and behavioral methods, which are described in this monograph, are used.

Goals you can control, objectives you cannot. By following your behavioral goals, you get to your objectives.