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Attributes of Nudge Improving Decisions About Health Wealth PDF
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.
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Illustrations of Nudge Improving Decisions About Health Wealth PDF
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The Writers
Richard H. Thaler, winner of the 2017 Nobel Prize in Economics, is the Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago’s Graduate School of Business. His latest book is Misbehaving: The Making of Behavioral Economics. Cass R. Sunstein is the Robert Walmsley University Professor at Harvard Law School and most recently the author of Impeachment: A Citizen’s Guide.
Proportions of Nudge Improving Decisions About Health Wealth PDF
- Identification Number : 0300122233
- Publisher : Yale University Press; Illustrated edition (April 8, 2008)
- Language : English
- Hardcover : 293 pages
- International Standard Book Number-10 : 9780300122237
- International Standard Book Number-13 : 978-0300122237
- Item Weight : 1.38 pounds
- Dimensions : 9.4 x 6.5 x 1.2 inches
Reviews From Customers
JeanNoel
Excellent Read
May 29, 2022
Well written… Great Read for Leadership Roles… and Working Well w/ Others !
Dr. T
Our irrationality: It’s a feature, not a bug.
July 12, 2016
Important. Everyone should read this. I’ve read a ton of books about how irrational we all are, but this is the only book that also lays out a brilliant way to turn those cognitive weaknesses into strengths.
Beek2350
What Happened?!
June 1, 2015
I’ll start with the Audible version specifically. Except for a decent impression of Homer Simpson, the entire book seems to be narrated by the xtime video male voice. Pronunciations are occasionally way off the mark. The narration is flat and monotone. If you’re listening to this in the car to try to stay awake, just go ahead and pull over — it won’t help much.
To the content itself, I was right there with the author for the first 2/3 of the book. Suddenly, it’s as if they did an author switch and didn’t bother to read the first half that they had already written. Many of the ideas surrounding NUDGE are the use of default options, mandatory choice and other helpful decision-making tools to improve outcomes. These tools are based on harnessing System 1 thinking (intuitive thinking) or by using the laziness of System 2 (rational) thinking. This worked very well on issues such as 401(k) contributions, organ donations and investment choices. However, when pulled into the context of environmental issues and school choice, it is logically inconsistent to assume that humans will suddenly become econs on these issues.
Specifically, corporations are unlikely to be motivated to change their environmental records based on a government blacklist. Most people would not bother to find the list, let alone read it. And corporations would not see the list as an environmental nudge so much as a publicity nudge. It is cheaper to launch ad campaigns to promote the idea that you are a responsible corporation than it is to actually be a responsible corporation. As a test case, consider BP. They had a very successful ad campaign touting their environmental responsibility. Yet, they were responsible for a massive spill that was largely due to irresponsibility. This nudge will likely turn into a publicity war, not an environmental movement.
Next school choice is hardly as simple as test scores. Test scores are a greater reflection of the neighborhoods the schools are in and not the methods of teaching. The best teachers in the world have extremely low odds of turning a low-performing district into a average one. It’s far too complex a system to pin success to one variable. Nevertheless, even if test scores are indicative of better schools, this would undoubtedly become another publicity issue. In order to attract dollars (students), ambitious schools would tout all sorts of nonsense to attract students in order to maximize revenue. Spending would have to be cut in order to meet their new advertising budgets. It again, becomes a publicity issue. Assuming that consumers would suddenly start making rational decisions about their kids is divorced from reality and divorced from the first part of the book.
In spite of my disappointment, I enjoyed the book and thought it had many good ideas that I plan to implement into my business as I deal with my clients. But you can effectively throw out the entire last part of the book and lose nothing. In fact, the text would be improved with such an omission.
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David M. Giltinan
This book is awesome!
October 23, 2008
This is a terrific book. The authors cover terrain which has been explored recently in books such as “Predictably Irrational” and “Sway” — loosely speaking, why we humans persistently engage in behavior patterns which do not benefit us in the long term. Their own research, at the University of Chicago, builds upon the work of Tversky and Kahneman in behavioral economics; the behavioral insights gained form the basis for public policy changes in a number of different areas.
The book provides a funny, engaging, remarkably clear exposition of the various factors which lead us to make poor decisions. This alone would make it worth reading. What makes it exceptional is that they actually suggest *remedies* that might help us save ourselves from our own flawed gut instincts. Indeed, they go one step further, making a convincing argument for incorporating these remedies as a part of public policy. The examples that they consider are directly relevant to decisions each of us faces routinely: choices that primarily affect our own welfare, like decisions about health and lifestyle, credit and money management, investing for retirement; and choices with broader societal implications, like those pertaining to environmental behavior, organ donation, charitable giving and community involvement. They use the term “libertarian paternalism” to characterize their public policy recommendations; don’t allow the term to put you off – their suggestions really make a lot of sense.
“Nudge” is very well-written and extremely readable. I was impressed by the amount of useful and interesting material the authors managed to incorporate in just 250 pages. I highly recommend this book.
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RM
Not what I was expecting
May 22, 2009
Perhaps I should have looked more into what I was getting. I was expecting a book which helped the individual make good decisions as well as influence others to make the good decisions they want to make but sometimes don’t. There were some really good concepts in this book which covered these areas, but primarily it was a book for the politically minded. It goes very into detail on finances as well as medicare and various government programs which could be improved. While I love the idea of “Libertarian Paternalism”, be aware this book is very political (the concepts can easily be applied to any party though) and contains little advice for the individual who is looking to better themselves. As another reviewer stated:
“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.”
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