Thaler — “The evidence suggests that when people get a…”

Source: Misbehaving: The Making of Behavioral Economics — Richard H. Thaler

Book page: thaler-misbehaving

From: Misbehaving: The Making of Behavioral Economics — Quotes

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The evidence suggests that when people get a windfall—and this seems to be the way people think about their tax refund, despite it being expected—they tend to save a larger proportion from it than they do from regular income, especially if the windfall is sizable.