Fazit – das Wirtschaftsblog

Fazit - das Wirtschaftsblog

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Richard Thaler in Quotes

| 5 Lesermeinungen

© APRichard Thaler

Here are some quotes from the newest economics nobel laureate Richard Thaler:

  • „My thesis advisor, Sherwin Rosen, gave the following as an assessment of my career as a graduate student: We did not expect much of him.“ (ibid.)
  • “I said that the difference between our models was that he assumed that the agents in his model were as smart as he was, and I assumed they were as dumb as I am. Barro agreed.” (In his book „Misbehaving“)
  • „At the University of Chicago, you can call someone a Marxist, an anarchist, or even a Green Bay Packers fan, but calling a colleague a paternalist is the cruellest cut of all.“ (ibid.)
  • „I spent that year out there with Kahneman just up the hill at the Center for Advanced Study in the Behavioral Sciences and Tversky down on campus in the psychology department. I took a course from him, Tversky, but spent hundreds of hours talking to both of them and taking walks with them. They didn’t know anything about economics. I didn’t know anything about psychology, so there were gains from trade.“ (About his year in Stanford, in this very insightful interview
  • About bubbles: „So when Gene and I have these arguments, he’ll say the fact that you can’t predict when they will end means you can’t say anything about them. I say, no, that’s not the case. And that’s why I separate these two aspects of the efficient markets argument: Whether you can get rich (the “no-free-lunch” part) and whether the “price is right.” It’s hard to get rich because even though I thought Scottsdale real estate was overpriced, there was no way to short it. Even if there were a way—Shiller tried to create markets in that, so that you could have shorted it—you might have gone broke before you were right. But I think of these two components. Gene will always say the “you can’t beat the market” part is the more important part. Now, I don’t know whether that’s self-serving or whether that’s what he believes.“ (ibid.)
  • „I still believe in supply and demand, you’ll be happy to know.“ (ibid.)
  • „Don’t trust men under 30“. (In this interview)
  • „Stockholm is a charming place, but I wouldn’t necessarily go there in December.“ (ibid.)
  • „Now I don’t have to call him Professor Fama any more“ (About his golf partner Eugene Fama, who already had a nobel prize, during the nobel prize announcement)

5 Lesermeinungen

  1. "biografische und lustige" zitate...
    … gewiss, denn es sind nun mal ungewollte kondensate solcherart … entschuldigen sie bitte, scharlatanerie. die zunft beklagt schwindende neigung zur vwl. es ist zum verzweifeln. oder soll die behandung des homo oeconomicus im stupser-universum zur generierung eines oekonomischen blade runners fuehren?

    • Wie ich aus wohlinformierten Kreisen höre, ist der nächste Beitrag zu Thaler in Vorbereitung… :-)

  2. breath taking level ...
    … eines nobilierten wirtschaftswissenschaftler. die globale oekonomie lahmt (beispielsweise unternehmeni japan, FAZ heute seite 25) und wir werden mit ayuverda-sentenzen gefuettert:„I still believe in supply and demand, you’ll be happy to know.“ (ibid.)
    „Don’t trust men under 30“. (In this interview)
    na servus

    • "mit ayuverda-sentenzen gefuettert..."
      Ayurveda ist dagegen intellektuell anspruchsvoll … jo… !

      Aber was kann man anders erwarten…

    • Ich habe jetzt auch nicht programmatische Zitate herausgesucht, sondern eher biographische und lustige. Über seine Arbeit hat man ja wirklich in den vergangenen Tagen viel gelesen, auch bei uns auf der Hauptseite.

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