Nudge: The Final Edition [PDF] Richard H. Thaler and Cass R. Sunstein

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Nudge The Final Edition Book PDF

Nudge The Final Edition Book PDF Details

NameNudge: The Final Edition
AuthorRichard H. Thaler and Cass R. Sunstein
LanguagePenguin Books
PublisherPenguin Books
FormatPDF, Epub

Nudge The Final Edition Book PDF Summary

Since the original publication of Nudge more than a decade ago, the title has entered the vocabulary of businesspeople, policy makers, engaged citizens, and consumers everywhere. The book has given rise to more than 400 “nudge units” in governments around the world and countless groups of behavioral scientists in every part of the economy. It has taught us how to use thoughtful “choice architecture”—a concept the authors invented—to help us make better decisions for ourselves, our families, and our society.

Now, the authors have rewritten the book from cover to cover, making use of their experiences in and out of government over the past dozen years as well as an explosion of new research in numerous academic disciplines. To commit themselves to never undertaking this daunting task again, they are calling this the “final edition.”

It offers a wealth of new insights, for both its avowed fans and newcomers to the field, about a wide variety of issues that we face in our daily lives—COVID-19, health, personal finance, retirement savings, credit card debt, home mortgages, medical care, organ donation, climate change, and “sludge” (paperwork and other nuisances we don’t want, and that keep us from getting what we do want)—all while honoring one of the cardinal rules of nudging: make it fun!

So, what’s a nudge? Sunstein has explained it this way: “A nudge is an intervention that maintains freedom of choice but steers people in a particular direction. A tax isn’t a nudge. A subsidy isn’t a nudge. A mandate isn’t a nudge. And a ban isn’t a nudge. A warning is a nudge: “If you swim at this beach, the current is high, and it might be dangerous.” You’re being nudged not to swim, but you can.

When you’re given information about the number of fat calories in a cheeseburger, that is a nudge. If a utility company sends something two days before a bill is due, saying that “You should pay now, or you are going to incur a late fee,” that is a nudge. You can say no, but it’s probably not in your best interest to do so. Nudges help people deal with a fact about the human brain—which is that we have limited attention. The number of things that we can devote attention to in a day or an hour or a year is lower than the number of things we should devote attention to. A nudge can get us to pay attention.”

Thaler and Sunstein nudge their reader to consider being a “choice architect” who “has the responsibility for organizing the context in which people make decisions.” They offer dozens of examples from their own experience and remind me of several of mine. Here’s one. While attending a reception in Washington for a new UK ambassador to the United States, I became engaged in conversation with one of his aides. When I asked him how he defined diplomacy, he replied, “Letting the other chap have it your way.”

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About The Author-

Richard H. Thaler was awarded the 2017 Nobel Memorial Prize in Economic Sciences for his contributions to the field of behavioral economics. He is the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business.

He is a member of the National Academy of Science and the American Academy of Arts and Sciences, and in 2015 he was the president of the American Economic Association. He has been published in numerous prominent journals and is the author of 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. From 2009 to 2012 he served in the Obama administration as administrator of the White House Office of Information and Regulatory Affairs, from 2020 to 2021 he served as chair of the Technical Advisory Group for Behavioral Insights and Health at the World Health Organization, and in 2021 he joined the Biden administration as senior counselor and regulatory policy officer in the Department of Homeland Security.

His many books include Impeachment: A Citizen’s Guide, Too Much Information, and, with Daniel Kahneman and Olivier Sibony, Noise. 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, social sciences, law, or theology.

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