Kahneman: Policy reforms fail because potential losers fight harder than winners
Daniel Kahneman · #68 Daniel Kahneman: Putting Your Intuition on Ice · Oct 15, 2019 · at 19:03
Nobel laureate Daniel Kahneman explains the public policy consequences of behavioral loss aversion to Shane Parrish.
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“And it turns out that you can really expect losers, potential losers, to fight a lot harder than potential winners. And that's the reason that reforms so frequently fail, and that when they succeed, they're almost always way more expensive than anticipated, and they're more expensive because you have to compensate the losers, and that frequently is not anticipated.”
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