“Money management has been a profession involving a lot of fakery - people saying they can beat the market, and they really can't.” PeopleHas BeensBeatsManagementProfessionInvolvingMoney Management Author:Robert J. Shiller
“My father, Benjamin Shiller, told me not to believe in authorities or celebrities - that society tends to imagine them as superhuman. It's good advice. People are snowed by celebrities all the time. In academia people have this idea of achieving stardom - publishing in the best journals, being at the best university, writing on the hot topic everyone else is writing about. But that's what my father told me not to do. He taught me that you have to pursue things that sound right to you.” PeopleWritingBelieveIdeasFatherSoundImagineAchieveAdviceTaughtAuthorityHotUniversityPursuePublishingJournalTopicsGood AdviceAcademiaSuperhumanStardomHot Topic Author:Robert J. Shiller
“Marketers know that if people you respect - perhaps laughably including entertainers and athletes - say they like a product, you're more likely to buy.” PeopleIfsKnowsProductsIncludingAthleteEntertainersMarketers Author:Robert J. Shiller
“Can a controlled experiment explain why people like Kewpie dolls in one year, Beanie Babies in another, and American Girl dolls this year? Yet social scientists are asked to answer analogous questions. We economists and perhaps psychologists shouldn't overreact to the derision. That is, we shouldn't try to overlay a false sense of precision on our admittedly squooshy work.” PeopleTryingYearsGirlSocialAnswersBabyScientistExperimentsControlledEconomistDollsPsychologistPrecisionDerision Author:Robert J. Shiller
“I have argued that we need livelihood insurance, which would protect people against the risk of seeing their skills and expertise no longer needed. Such insurance could be offered by the private sector.” PeopleNeedsSeeingRiskNeededProtectSkillsExpertisePrivate SectorLivelihood Author:Robert J. Shiller
“My clinical psychologist wife of 40 years has always had a close intellectual influence on me. When I was beginning to talk openly in the economics profession about irrationality in decision-making, I received a lot of criticism. Ginny would support my views and remind me that a whole other profession - psychology - studies people's irrational sides.” PeopleYearsWholeSidesDecisionViewsSupportStudyPsychologyWifeInfluenceIntellectualEconomicsCriticismProfessionDecision MakingIrrationalPsychologistIrrationalityClinicalsClinical Psychologists Author:Robert J. Shiller
“It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.” PeopleLittlesUseChallengesWillingInvestmentData Author:Robert J. Shiller
