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Notes of [Nudge: improving …] by Thaler & Sunstein (1)

  1. Choice Architect:
    • A choice architect has the responsibility for organizing the context in which people make decisions.
  2. Paternalistic
    • A policy is “paternalistic” if it tries to influence choices in a way that will make choosers better off, as judged by themselves.
  3. Nudge
    • A nudge is any aspect of the choice architecture that alters people’s behavior in a predictable way without forbidding any potions or significantly changing their economic incentives.
  4. For a host of reasons, …, people have a strong tendency to go along with the status quo or default option.
  5. One false assumption
    • Almost all people, almost all of the time, make choices that are in their best interest or at the very least are better than the choices that would be made by someone else.
  6. Two misconceptions:
    • It is possible to avoid influencing people’s choices;
    • paternalism always involves coercion.
  7. Freedom to choose is the best safeguard against bad choice architecture.
  8. If incentives and nudges replace requirements and bans, government will be both smaller and more modest.

About Xiang 'Anthony' Chen

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