Tuesday, June 2, 2015

Q&A with Richard Thaler, a Behavioral Economist

Economist's View: 'Q&A: Richard Thaler'
Question: What are the most valuable things that you got out of studying economics in graduate school?
Answer: The main thing that you learn in grad school, or should learn, is how to think like an economist. The rest is just math. You learn a bunch of models and you learn econometrics -- it’s tools. Some people who are so inclined concentrate on having sharper tools than anybody else, but my tools were kind of dull. So the main thing was just, “How does an economist think about a problem?” And then in my case it was, “That’s really how they think about a problem?” ...

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