Nudge: Improving Decisions about Health, Wealth, and HappinessA New York Times bestseller with more than 1.5 million copies sold Named a Best Book of the Year by the Economist and the Financial Times “An essential read . . . loaded with good ideas that financial-service executives, policy makers, Wall Street mavens, and all savers can use.”—John F. Wasik, Boston Globe “Save the planet, save yourself. Do-gooders, policymakers, this one's for you.”—Newsweek Every day, we make decisions on topics ranging from personal investments to schools for our children to the meals we eat to the causes we champion. Unfortunately, we often choose poorly. Nobel laureate Richard Thaler and legal scholar and bestselling author Cass Sunstein explain in this important exploration of choice architecture that, being human, we all are susceptible to various biases that can lead us to blunder. Our mistakes make us poorer and less healthy; we often make bad decisions involving education, personal finance, health care, mortgages and credit cards, the family, and even the planet itself. In Nudge, Thaler and Sunstein invite us to enter an alternative world, one that takes our humanness as a given. They show that by knowing how people think, we can design choice environments that make it easier for people to choose what is best for themselves, their families, and their society. Using colorful examples from the most important aspects of life, Thaler and Sunstein demonstrate how thoughtful “choice architecture” can be established to nudge us in beneficial directions without restricting freedom of choice. Nudge offers a unique new take—from neither the left nor the right—on many hot-button issues, for individuals and governments alike. This is one of the most engaging and provocative books to come along in many years. |
From inside the book
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... default option. When you get a new cell phone, for example, you have a series of choices to make. The fancier the phone, the more of these choices you face, from the background to the ring sound to the number of times the phone rings ...
... default should be for a supplementary salary reduction program (a tax-sheltered savings program). To that point, the default had been the “back to zero” option. But since contributions to this program could be stopped at any time, the ...
... option is designated as the “default,” it will attract a large market share. Default options thus act as powerful nudges. In many contexts defaults have some extra nudging power because consumers may feel, rightly or wrongly, that default ...
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Contents
2 | |
6 | |
17 | |
40 | |
53 | |
When Do We Need a Nudge? | 72 |
Choice Architecture | 81 |
MONEY | 93 |
Smorgasbord Style | 145 |
Part D for Daunting | 159 |
How to Increase Organ Donations | 175 |
Saving the Planet | 183 |
Improving School Choices | 199 |
Should Patients Be Forced to Buy Lottery Tickets? | 207 |
Privatizing Marriage | 215 |
PART V | 227 |
Save More Tomorrow | 103 |
Naïve Investing | 118 |
Credit Markets | 132 |
Objections | 236 |
The Real Third Way | 252 |
Other editions - View all
Nudge: Improving Decisions about Health, Wealth and Happiness Richard H. Thaler No preview available - 2008 |