Much Ado About Nudging In their provocative paper, “Putting Nudges in Perspective”, George Loewenstein and Nick Chater attempt to correct what they perceive to be a serious problem in the research agenda of applying behavioral economics to public policy. The … Continue reading Are prohibitions ineffective?
Can Behavioral Science Help in Flint? A week after Donald Trump’s election, a thirty-year-old cognitive scientist named Maya Shankar purchased a plane ticket to Flint, Michigan. Shankar held one of the more unorthodox jobs in the Obama White House, running … Continue reading Nudge for good
Behavioural economics – a critique of its policy conclusions Behavioural economics is not a challenge to neo-classical ways of thinking. It sits firmly within the neo-classical framework. It simply gives us a new way of analysing how markets might deviate … Continue reading How little people know
The two friends who changed how we think about how we think In 2003, we reviewed “Moneyball,” Michael Lewis’s book about Billy Beane and the Oakland A’s. The book, we noted, had become a sensation, despite focussing on what would … Continue reading The undoing project
Nudge for good: How insights from behavioral economics can improve the world— and manipulate people Richard H. Thaler is a world-renowned behavioral economist and professor of finance and psychology.. Recently, he was interviewed by The Economist. The discussion covers some … Continue reading How companies nudge behavior
Misbehaving: the making of behavioural economics – Richard Thaler LSE Lecture Richard Thaler, described by The Spectator as ‘the godfather of behavioural economics’, will be in conversation with LSE Director Craig Calhoun about his book Misbehaving: the making of behavioural … Continue reading The godfather of behavioural economics
Why Nudging Your Customers Can Backfire In the approximately eight years since the book Nudge, by Richard Thaler and Cass Sunstein, came out, nudges have become a widely used consumer influence strategy. Nudge marketing refers to deliberately manipulating how choices … Continue reading Nudge marketing is not always rosy