Quote of the Day

“My sense is that this financial crisis is going to amount to a
coming-out party for behavioral economists and others who are bringing
sophisticated psychology to the realm of public policy. At least these
folks have plausible explanations for why so many people could have
been so gigantically wrong about the risks they were taking.”

–David Brooks, NYTimes columnist, writing about how analyzing situations incorrectly is one of the key problems that led us to the financial crists we’re in today, and how behavioral economists like Dan Ariely will have more impact going forward. (Susan sez: Well worth a read for the comments on Alan Greenspan.)