Richard Thaler in the Times of London


Then a valet brings me my car, and I ask if there’s a charge for the parking. “There’s no formal charge,” says the uniformed teenager, with an accommodating smile. I give him a $4 tip, instead of $2. Then I glance over at (Richard) Thaler, who is laughing.

“No formal charge?” the economist says to me. “Well, that’s one way of putting it.”

He’s right: I’ve just been nudged into paying double what I would have otherwise paid. Perhaps Obama and Cameron are on to something with this guy, after all.

From Times Online interview


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