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Nudge: Improving Decisions About Health, Wealth, and Happiness
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Nudge: Improving Decisions About Health, Wealth, and Happiness Paperback - 2009

by Richard H. Thaler, Cass R. Sunstein

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Penguin (Non-Classics), 2009-02-24. Paperback. Very Good. 0.8000 in x 8.2000 in x 5.5000 in.
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Summary

For fans of Malcolm Gladwell’s Blink and Nobel Prize winner Daniel Kahneman’s Thinking Fast and Slow, a revelatory new look at how we make decisions

A New York Times bestseller
An Economist Best Book of the Year
A Financial Times Best Book of the Year

Nudge is about choices—how we make them and how we can make better ones. Drawing on decades of research in the fields of behavioral science and economics, authors Richard H. Thaler and Cass R. Sunstein offer a new perspective on preventing the countless mistakes we make—ill-advised personal investments, consumption of unhealthy foods, neglect of our natural resources—and show us how sensible “choice architecture” can successfully nudge people toward the best decisions. In the tradition of The Tipping Point and Freakonomics, Nudge is straightforward, informative, and entertaining—a must-read for anyone interested in our individual and collective well-being.

From the publisher

Includes bibliographical references (p. 281-302) and index.

Categories

Excerpt

Common "Nudges"

  1. The design of menus gets you to eat (and spend) more. For example, lining up all prices on either side of the menu leads many consumers to simply pick the cheapest item. On the other hand, discretely listing prices at the end of food descriptions lets people read about the appetizing options first…; and then see prices.
  2. "Flies" in urinals improve, well, aim. When Amsterdam's Schiphol Airport was faced with the not uncommon issue of dirty urinals, they chose a unique solution: by painting "flies" in the (center of) commodes, men obligingly aimed at the insects, reducing spillage by 80 percent.
  3. Credit card minimum payments affect repayment schedules. Among those who only partially pay off credit card balances each month, the repayment level is correlated with the card's minimum payment — in other words, the lower the minimum payment, the longer it takes a consumer to pay off the card balance.
  4. Automatic savings programs increase savings rate. All over the country, companies are adopting the Save More Tomorrow program: firms offer employees who are not saving very much the option of joining a program in which their saving rates are automatically increased whenever they get a raise. This plan has more than tripled saving rates in some firms, and is now offered by thousands of employers.
  5. "Defaults" can improve rates of organ donation. In the United States, about one–third of citizens have signed organ donor cards. Compare this to Austria, where 99 percent of people are potential organ donors. One obvious difference? Americans must explicitly consent to become organ donors (by signing forms, for example) while Austrians must opt out if they do not want to be organ donors.

Media reviews

"Fundamentally changes the way I think about the world. . . . Academics aren't supposed to be able to write this well." —Steven Levitt, co-author of Freakonomics

"[An] utterly brilliant book. . . . Nudge won't nudge you-it will knock you off your feet." —Daniel Gilbert, author of Stumbling on Happiness

"Nudge is as important a book as any I've read in perhaps twenty years. It is a book that people interested in any aspect of public policy should read. It is a book that people interested in politics should read. It is a book that people interested in ideas about human freedom should read. It is a book that people interested in promoting human welfare should read. If you're not interested in any of these topics, you can read something else." —Barry Schwartz, The American Prospect

"This book is terrific. It will change the way you think, not only about the world around you and some of its bigger problems, but also about yourself." —Michael Lewis, author of Moneyball

About the author

Richard H. Thaler was awarded the 2017 Nobel Prize in Economics. He is the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago's Booth School of Business, where he is the director of the Center for Decision Research. He is also the co-director (with Robert Shiller) of the Behavioral Economics Project at the National Bureau of Economic Research and in 2015 was the president of the American Economic Association. He has been published in several prominent journals and is the author of a number of books, including Misbehaving: The Making of Behavioral Economics.

Cass R. Sunstein is the Robert Walmsley University Professor at Harvard Law School, where he is the founder and director of the Program on Behavioral Economics and Public Policy. He is by far the most cited law professor in the United States. From 2009 to 2012 he served in the Obama administration as Administrator of the White House Office of Information and Regulatory Affairs. He has testified before congressional committees, appeared on national television and radio shows, been involved in constitution-making and law reform activities in a number of nations, and written many articles and books, including Simpler: The Future of Government, Wiser: Getting Beyond Groupthink to Make Groups Smarter, The World According to Star Wars, and Impeachment: A Citizen's Guide. He is the recipient of the 2018 Holberg Prize, awarded annually to a scholar who has made outstanding contributions to research in the arts, humanities, the social sciences, law, or theology.

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