Every day, we make decisions on topics ranging from personal investments to schools for our children to the meals we eat to the causes we champion. Unfortunately, we often choose poorly. The reason, the authors explain, is that, being human, we all are susceptible to various biases that can lead us to blunder. Our mistakes make us poorer and less healthy; we often make bad decisions involving education, personal finance, health care, mortgages and credit cards, the family, and even the planet itself.
Thaler and Sunstein invite us to enter an alternative world, one that takes our humanness as a given. They show that by knowing how people think, we can design choice environments that make it easier for people to choose what is best for themselves, their families, and their society.
Using colorful examples from the most important aspects of life, Thaler and Sunstein demonstrate how thoughtful “choice architecture” can be established to nudge us in beneficial directions without restricting freedom of choice. Nudge offers a unique new take—from neither the left nor the right—on many hot-button issues, for individuals and governments alike. This is one of the most engaging and provocative books to come along in many years.
©2008 Yale University Press (P)2008 Yale University Press
I had the pleasure of being in the very first class Richard Thaler ever taught on Behavioral Decision Theory -- the topic that would make his career and would form the foundation for the novel ideas in "Nudge." I've been a junkie on this this topic ever since. It's a delight to see how Thaler has advanced knowledge in this field.
In this era of political polarity in the US, this is a most important book. Thaler presents proposals here that potentially both hard-core conservatives and liberals could both agree would be an improvement over the status quo. These days, that's almost impossible. Every member of Congress should read this book.
The central idea is what Thaler calls "libertarian paternalism." The idea slices through the dichotomy that individuals know best for themselves and that government knows best by establishing systems where individual freedom is not curtailed (a downside of the liberal agenda) but which direct people to better choices (a failure of the conservative agenda).
The ideas presented in Nudge are novel, and they are supported by substantial research in how people make decisions. This research show how mistaken traditional economic theory has been about how people make choices, and how employing a bit of psychology can make outcomes better for all.
The concepts in Nudge have implications beyond government.They apply to business and other areas, too. I sent my company's CFO a copy when he couldn't believe our employee's behavior about our 401k plan. Nudge has a section on how Ph.d. economists make bad 401k decisions. Our employees were the same.
If you're interested in improving how people make decisions, this is a must read.
I couldn't get through more than 10 minutes of this. I'd suggest a different narrator potentially. This one sounded a lot like an automated reading program/robot voice.I've consumed a few audiobooks, and I listen to a lot of podcasts regularly. This was the most difficult narration to listen to I've encountered.
A truly outstanding book about behavioral economics/psychology. I'm looking forward to learning more. I thought the book did a really good job of serving in a popularly interesting way. I only feel a little bit hindered in listening to the audiobook as opposed to reading the book because they make frequent reference to diagrams in their book.
The book offered interesting insight into choice architecture. Subtle differences in how options are presented can have dramatic impacts on results.
The book was a tad long winded. If the Cliff Notes exist, save your time and read/listen to them. There will be little loss of substance
I was delightfully surprised about the power and importance of choice architecture. While I like some of the analogies used; I didn't like them all.
A new system of design architecture is described in which people retain the freedom to make any choice they desire, but they are more informed and set up to easier make better decisions for themselves. A wide variety of difficult issues are used as examples to show how well the system could work. I like that it removes much of the political agendas and gets down to the basics where both sides can work together if they really want what it best for the country and her citizens.
I enjoyed the concepts and like the idea of libertarian paternalism. The narrator was oddly paced and sounded robotic though. It made me keep checking how much more there was left in the book since I was about ready to move on.
"Great book ruined"
This is a really important book and should be, given its content, very engaging but it was ruined by awful, robotic reading. Hugely disappointing. This was my first book on here and if the others are read this badly then I'm not sure I will stay that long.
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