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Institutions are the rules of the game in a society or, more formally, are the humanly devised constraints that shape human interaction.

制度是一個社會的游戲規則，或者更正式地說，是人為設計的約束人類互動的框架。

道格拉斯·諾斯

The key to Nudge is to make the right choice the easy choice.

推動的關鍵在于讓正確的選擇變得容易。

理查德·塞勒

People are not dumb. The world is hard.

人們并不愚蠢，只是世界很復雜。

理查德·塞勒

The key to nudge is to make the desired behavior more salient, easier, and more attractive.

推動的關鍵是使期望的行為更加突出、更容易和更有吸引力。

理查德·塞勒

If you want people to do something, make it easy.

如果你想讓人做某事，就讓它變得簡單。

理查德·塞勒

The point is that the effects of government policies that alter incentives—whether through taxes, subsidies, or regulation—are often very different from what the proponents of those policies claim.

關鍵在于，政府通過稅收、補貼或監管改變激勵的政策效果，往往與政策支持者聲稱的大不相同。

保羅·克魯格曼

The point is that the effects of government spending depend on the state of the economy.

關鍵在于政府支出的效果取決于經濟狀況。

保羅·克魯格曼

The degree of market failure is never zero, but neither is the degree of government failure.

市場失靈的程度永遠不會為零，但政府失靈的程度同樣如此。

喬治·斯蒂格勒

The most important single central fact about a free market is that no exchange takes place unless both parties benefit.

關于自由市場最重要的一個核心事實是，除非雙方都受益，否則交易不會發生。

喬治·斯蒂格勒

The scientist is not content to stop with the obvious.

科學家不滿足于停留在表面現象。

喬治·斯蒂格勒

The degree of market failure is not a sufficient condition for government intervention.

市場失靈的程度并不是政府干預的充分條件。

喬治·斯蒂格勒

Competition is a tough weed, not a delicate flower.

競爭是一種頑強的野草，而非嬌嫩的花朵。

喬治·斯蒂格勒

The public interest theory of regulation holds that regulation is supplied in response to the demand of the public for the correction of inefficient or inequitable market practices.

監管的公共利益理論認為，監管是為了回應公眾對糾正低效或不公平市場行為的需求而提供的。

喬治·斯蒂格勒

The Great Depression was not a failure of markets but a failure of policy.

大蕭條不是市場的失敗，而是政策的失敗。

愛德華·普雷斯科特

Policy rules are superior to discretion because they eliminate the time inconsistency problem.

政策規則優于自由裁量，因為它們消除了時間不一致性問題。

愛德華·普雷斯科特

Policy rules are better than discretion because they avoid the time inconsistency problem.

政策規則優于自由裁量，因為它們避免了時間不一致性問題。

愛德華·普雷斯科特

The key to understanding business cycles is to understand the nature of the shocks that hit the economy.

理解經濟周期的關鍵在于理解沖擊經濟的本質。

愛德華·普雷斯科特

The welfare cost of business cycles is not the business cycle itself, but the fact that people are risk averse.

經濟周期的福利成本并非周期本身，而在于人們是風險厭惡的。

愛德華·普雷斯科特

The Great Depression was not a failure of capitalism but a failure of government policy.

大蕭條不是資本主義的失敗，而是政府政策的失敗。

愛德華·普雷斯科特

Monetary policy can be destabilizing if it is not conducted in a time-consistent manner.

如果貨幣政策不以時間一致的方式進行，可能會產生不穩定。

愛德華·普雷斯科特

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