Lynn Thoman

But I thought what you were going to say is most of the students would say they would bid $50 half to be fair.

But that's not where you're going at all.

Richard, you've talked about a number of anomalies and behaviors.

Are these necessarily dumb?

How can we stop ourselves from doing some of these things that make absolutely no economic sense?

That's an amazing story that your daughter caught you up on a classic behavioral mistake and you as the famed Nobel laureate.

You and Cass Sunstein introduced the world to nudges.

Can you explain what a nudge is and give a couple of examples of nudges?

So what you're essentially saying is that people excel at doing nothing.

So defaults are great nudges.

So interesting.

What are the three takeaways you'd like to leave the audience with today?

Richard, thank you for joining Three Takeaways.

It's been a pleasure.

I very much enjoyed all three of your books, The Winner's Curse, Nudge, and Misbehaving.

And of course, congratulations on winning the Nobel Prize.

Thanks, Lynn.

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