In the opening chapter of his book “Carrots and Sticks,” Ian Ayres recounts the story of Thaler’s Apples:

“The behavioral revolution in economics began in 1981 when Richard Thaler published a seven-page letter in a somewhat obscure economics journal, which posed a pretty simple choice about apples. Which would you prefer: (A) One apple in one year, or (B) Two apples in one year plus one day?

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