On Bitcoin, Richard Thaler Says He “Needs Selena Gomez To Explain That”

In the wake the failure of an Obamacare replacement to gain Congressional approval, University of Chicago professor Richard Thaler, a leading expert on behavioral economics, thinks he has the answer. Speaking at the Morningstar ETF Conference in Chicago and later with reporters, Thaler recommends nudging people to make the rational, unemotional choices that he says are not being made relative to healthcare insurance.

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When buying health care insurance, Thaler says people choose the expensive option even though it isn't logical, nudging is key

In his 2008 book Nudge: Improving Decisions About Health, Wealth, and Happiness, Thaler, along with coauthor...