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Quote by Richard H. Thaler

“But if it is crazy to turn down the 100 bets, the logic of Samuelson's argument is just reversed; you should not turn down one! Shlomo and I called this phenomenon "myopic loss aversion". The only way you can ever take 100 attractive bets is by first taking the first one, and it is only thinking about the bet in isolation that fools you into turning it down.”

Quote by Richard H. Thaler

Book:Misbehaving: The Making of Behavioral Economics
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Misbehaving: The Making of Behavioral Economics

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Richard H. Thaler

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