Book Recommendation: Nudge

Similar message to my Fish Sticks post about people’s likelihood to do the right thing, if just given the right information….

WorldChanging book review:

 

“Authored by two Univeristy of Chicago heavy-hitters, Economist Richard Thaler and Law Professor Cass Sunstein, Nudge explores the policy implications of behavioral economics, a field describing the irrationalities of human behavior. Taking findings from psychology (e.g. people procrastinate; they’re averse to losing money), Thaler and Sunstein propose policies to help us make the best decisions, in light of our irrational tendencies. In a classic example, they suggest we design 401k plans to require “opting-out” rather than “opting-in,” thus encouraging people to save by default. […]

Nudge goes beyond psychological research to suggest concrete ways to improve public policy in light of experimental findings.

Humans are bad at long-term planning: but what if cars came with stickers tallying the monthly cost of gas over the next five years: sticker shock might lead buyers to a more efficient car? Or what if we “nudged” people to conserve energy by showing how their energy use stacks up with that of neighbors?”

More…

Total
0
Shares
Leave a Reply
Related Posts
Read More

5 Recurring Billing Challenges and How to Overcome Them

Growing B2B SaaS companies usually find themselves having to tackle the complexities of the recurring billing process. And if left unchecked, the consequences can be brutal to your company’s growth, including revenue loss, customer dissatisfaction,...