Book Review: Nudge by Richard H. Thaler and Cass R. Sunstein

Synopsis

It can be hard for busy professionals to find the time to read the latest books. Stay up to date in a fraction of the time with this concise guide.Nudge: Improving Decisions About Health, Wealth and Happiness, by the Nobel Prize-winning economist Richard H. Thaler and the Harvard Law School professor Cass S. Sunstein, advocates libertarian paternalism, an approach by which individuals can be steered to make better decisions without taking away their freedom of choice. According to Thaler and Sunstein, humans are subject to biases and cognitive shortcomings which prevent them from always making the best decisions. By altering the way in which choices are presented, so-called "choice architects" can make people more likely to opt for a particular choice even if everything else in the situation remains the same. The idea of nudges has important applications in public policy, and the book has proved influential in numerous fields, from economics to philosophy.This book review and analysis is perfect for: • Students of economics, psychology and politics• Anyone who wants to know why we make the choices we do• Anyone who is curious about how public policy can shape our behaviourAbout 50MINUTES.COM|BOOK REVIEWThe Book Review series from the 50Minutes collection is aimed at anyone who is looking to learn from experts in their field without spending hours reading endless pages of information. Our reviews present a concise summary of the main points of each book, as well as providing context, different perspectives and concrete examples to illustrate the key concepts.