The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
Policy makers, like most people, normally feel that they already know all the psychology and all the sociology they are likely to need for their decisions. I don't think they are right, but that's the way it is.
The idea that you can ask one question and it makes the point - well, that wasn't how psychology was done at the time.
Follow AzQuotes on Facebook, Twitter and Google+. Every day we present the best quotes! Improve yourself, find your inspiration, share with friends
or simply: