Richard H. Thaler — The Winner’s Curse and Going Against the Establishment (with Nick Kokonas)

There's a story I tell about a dinner party and I bring out a bowl of cashew

nuts. People started eat nibbling as they do. And at some point I realized

their appetite was in danger. And so I grabbed the bowl of cashew nuts and went

and hid them in the kitchen. People thanked me. So you removed choice. And then because this is a group of

economists, somebody mentions that well we're actually not allowed to be happy about that because more options is