Nudge (2008) (edit title/settings)

Ridiculously Simplified Synopsis edit see section history

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Characters/People edit see section history

• Thaler: g
• Sunstein: Add a description of this character.
• David
• Bush
• Asch
• Vince
• Prestwood
• Linda
• Gilovich
• Hoffman
• Ayres

Quotes edit see section history

• “I should have computed the historic covariances of the asset classes and drawn an efficient frontier”

• “Not only were you wrong; you were probably confident that you were right”

• “Putting the fruit at eye level counts as a nudge”

• “To count as a mere nudge, the intervention must be easy and cheap to avoid”

• “Many markets are replete with incentive conflicts”

• Popular Highlights from Kindle Customers

• A nudge, as we will use the term, is any aspect of the choice architecture that alters people’s behavior in a predictable way without forbidding any options or significantly changing their economic incentives.

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• A choice architect has the responsibility for organizing the context in which people make decisions.

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• First, never underestimate the power of inertia. Second, that power can be harnessed.

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• Loss aversion helps produce inertia, meaning a strong desire to stick with your current holdings.

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• The clear lesson here is that consistent and unwavering people, in the private or public sector, can move groups and practices in their preferred direction.

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• anchors serve as nudges. We can influence the figure you will choose in a particular situation by ever-so-subtly suggesting a starting point for your thought process.

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• The approach involves a distinction between two kinds of thinking, one that is intuitive and automatic, and another that is reflective and rational.1 We will call the first the Automatic System and the second the Reflective System.

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• As we will see, loss aversion operates as a kind of cognitive nudge, pressing us not to make changes, even when changes are very much in our interests.

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• The false assumption is that 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.

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• The second misconception is that paternalism always involves coercion.

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Setting & Locations edit see section history

• United States
• Texas
• Sweden
• Illinois
• Chicago
• London
• Maine
• Germany
• France
• Boston
• Europe
• Wisconsin
• Seattle
• America
• Jonestown
• Denver
• Montana
• Paris
• Florida

First Sentence edit see section history

Series & Lists edit see section history

Authors & Contributors edit see section history

1. Richard H. Thaler (Author)
2. Cass R. Sunstein (Author)

First Edition edit see section history

Classification edit see section history

• Library of Congress: Add the Library of Congress Classification.
• Dewey: 330.019

Subjects edit see section history

• Books › Nonfiction › Social Sciences › Sociology › Social Theory
• Books › Health, Mind & Body › Psychology & Counseling › Social Psychology & Interactions
• Books › Science › Behavioral Sciences › Behavioral Psychology
• Books › Business & Investing › Marketing & Sales › Consumer Behavior
• Books › Health, Mind & Body › Psychology & Counseling › Occupational & Organizational
• Books › Business & Investing › Popular Economics

Books Influenced by This Book edit see section history