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Richard Thaler, the father of 'nudge theory', has been awarded the Nobel economics prize. But what is nudge theory? Does it actually work?


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What is NUDGE THEORY? What does NUDGE THEORY mean? NUDGE THEORY meaning \u0026 explanation

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Nudge theory seeks to improve understanding and management of the 'heuristic' influences on human behaviour (US spelling: behavior), which is central to '.


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An Important Lesson from \

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One: any regulatory effort is directed by potentially biased politicians. Two: while nudges invoke insights about boundaries of rationality, biases.


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Nudge Summary in 2 Minutes

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a light touch or push.


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Richard Thaler - Nudge: An Overview

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Nudge definition, to push slightly or gently, especially with the elbow, to get someone's attention, prod someone into action, etc. See more.


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A Brief History of Nudge ㅡ Learn the power of nudge to win at behavioral change

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Richard Thaler, the father of 'nudge theory', has been awarded the Nobel economics prize. But what is nudge theory? Does it actually work?


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Nudge Meaning

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Nudge theory seeks to improve understanding and management of the 'heuristic' influences on human behaviour (US spelling: behavior), which is central to '.


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What is Nudge?

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Nudge is a concept in behavioral economics, political theory, and behavioral sciences which proposes positive reinforcement and indirect suggestions as ways.


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What is Nudge Theory?

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What is nudge?

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Nudge theory seeks to improve understanding and management of the 'heuristic' influences on human behaviour (US spelling: behavior), which is central to '.


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What is nudging?

These human fallibilities are generally associated with natural human behaviour hence the 'human' designation explained below and are highly significant in either acting as 'nudges' or contributing to 'nudge' effects. Here is a simple table showing varying characterizations of, and differences between, traditional 'directed' change and Nudge-oriented interventions, in terms of keywords and tactical notions. This review of Thaler and Sunstein's Nudge theory is essentially concerned with the 'how and why nudge theory works'. Thaler and Sunstein said of Nudge theory's underpinning philosophy, in emphasizing the need to preserve free choice: " Putting the fruit at eye-level counts as a nudge. Thaler and Sunstein don't actually give a specific definition of 'Nudge theory' in their book, although a definition of a 'nudge' is given in the book and quoted by Wikipedia :. The model is descriptive: it tries to model real-life choices, rather than optimal decisions. This is perhaps due to the highly accessible 'Nudge' branding and packaging, together with a good marketing approach. The name and concept of 'Nudge' or 'Nudge theory' were popularized by the book, ' Nudge: Improving Decisions About Health, Wealth, and Happiness ', which became a major international best-seller. This is a further important additional philosophical aspect of Nudge theory. Here are further definitions Businessballs which reflect an expanded view of the potentially wider use of Nudge theory. Here is a brief summary of the fallibilities, or heuristic tendencies, identified by Thaler and Sunstein. Tversky died in , sadly before the Nobel economics prize was awarded in for his work with Kahneman, and this seems to have has reduced popular recognition of Tversky's contribution to Nudge theory. Kahneman and Tversky's expertise, by contrast, is psychology with a broader approach to decision-making, so it is interesting and a lesson in 'nudging' that Thaler and Sunstein's more narrow economics angle succeeded in bringing the ideas of 'Nudge' - and heuristics especially - into the mainstream. This is a fundamentally important assertion, supported by explanations of very many different irrational human tendencies, or 'fallibilities' as Thaler and Sunstein say; i. These are two different characterizations of people, used by Thaler and Sunstein to illustrate two different types of thinking and decision-making.{/INSERTKEYS}{/PARAGRAPH} On this point, the style and reputation of 'choice architect', as perceived by the people being 'nudged', can be a major factor influencing the success of applying Nudge theory. These feelings influence the people's openness to cooperation and having a positive reaction to being 'nudged'. The second half of the book focuses on American socio-economics, which by implication is more specialized and narrowly appealing. The authors list several types of heuristic tendencies in people, which equate to 'Nudges', on the basis that 'heuristics' are fundamental drivers of decisions. Nudge principles and techniques are now increasingly significant in communications, marketing, and the motivation of groups: in business, marketing, selling, organizational leadership, politics, economics, education, welfare; really in any situation where someone or a body of some sorts seeks to influence a person or a group of people, for example a customer group, or an entire society - or simply yourself, as an aid to improving personal health, wealth and well-being. Each of these summarized heuristic elements is linked to a more detailed explanation. Most of the people in authority using these devices will not know the term 'heuristics', but they nevertheless will be using these methods in different ways to influence people. Note that much of this theory and terminology was first established by Kahneman and Tversky. Consider that to varying degrees these heuristics are already exploited accidentally, carelessly, or very deliberately by corporations, governments, other institutions, mass media, religions, leaders, bosses, parents, etc. I'm always open to better suggestions of definitions, and given that Nudge theory is quite new and still evolving I am sure some will emerge. This is important, because 'Nudge' is a powerful concept. The authors did not devise or discover all of the various heuristic tendencies they present, but they have very cleverly brought them together into a cohesive, comprehensible and useable set of principles, and this is arguably the most valuable aspect of the book aside from bringing a helpful concept to a very big audience. Given that so many of these choices and influences are extremely unhelpful for people, this is a major area of opportunity for the development and use of Nudge theory, even if it were not envisaged as such by its creators. It concerns the relationship between leader and group or other authority and audience , and is the vital consideration that:. As such, 'libertarian paternalism' is the authors' preferred term for the guiding ethos and values of Nudge theory; the ethical and philosophical basis governing its use, and by implication its development. The roots of Nudge theory can be traced back to a wide variety of psychological models and philosophical concepts, especially the theories on thinking and decision-making of Kahneman, Tversky and others. It is implied by and within Nudge theory but not featured in Thaler and Sunstein's book. Kahneman's book, also a best-seller, ' Thinking, Fast and Slow ' contains much of the fundamental Khaneman-Tversky theory which underpins the Thaler-Sunstein 'Nudge' concept. The notion of a 'choice architect' connects strongly to the philosophy of Nudge theory. Nudge theory also draws from and connects to many other models of motivation and management, for example:. The theory was developed by Daniel Kahneman and Amos Tversky in as a psychologically more accurate description of decision making, comparing to the 'expected utility theory'. Accordingly, if you seek to understand Thaler and Sunstein's work first-hand, or to research and extract from the original Thaler-Sunstein source material, then you should obtain their book 'Nudge', and also explore Kahneman and Tversky's earlier work. 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. Often referring to the team as 'the Nudge Unit' after the work of Professor Richard Thaler, co-author of Nudge and academic advisor to the team , much of the media interest has focused on the influence this team has had within Whitehall and overseas; and the methods and insights that the team has applied to public policy Probably not, as the privatised company is selling its services to the corporate world and other governments, and will inevitably seek to maximise profits for its investors. The flexibility and adaptability of Nudge theory is a big part of its appeal to leaders everywhere. The first half offers very clear and entertaining explanation, supported by research and survey statistics, etc. Please note again that much of the 'heuristics' theory described here is based on the work of Daniel Kahneman and Amos Tversky. People naturally to focus on 'famous' or infamous people and personalities if they are seen to represent or be associated with the 'nudging' authority for example political and corporate leaders. They acknowledge that Nudge theory unavoidably entails a degree paternalism, as arguably all leadership does. Given that Nudge theory logically operates better where people have generally positive rather than negative feelings towards the 'nudging' authority, it follows that we must consider the factors that generate these feelings and define the relationships between authority and people. It was not designed to be used for unethical purposes, or to pursue aims which exploit people, or which do harm. The 'choice architect' must act with great responsibility and integrity. Nudge theory for example can help the parenting of a child; or at the other extreme could help a world government manage a global population. That is to say, the leadership is not the final judge of whether a change in people is helpful and good - the people themselves must judge this. During the s Nudge theory was still evolving and expanding in terms of its techniques, definition, and significantly its applications. These c. In the Nudge' book, Thaler and Sunstein draw heavily on the earlier heuristic work of Kahneman and Tversky, which first emerged in the s in university papers and psychological journals. Nudge theory initially emerged in the early s USA as a radical approach to influencing people's interaction with financial systems, notably pensions, savings and healthcare - so as to improve quality of later life, not to enrich financial corporations. To count as a mere nudge, the intervention must be easy and cheap to avoid. Thaler and Sunstein's book 'Nudge' is about pages long. Banning junk food does not It's the nearest thing to a definition of 'Nudge' by the authors that appears in the book. The second half of the book explores the application of Nudge theory in relation to major challenges of USA behavioural economics notably savings and investments, credit markets, and social security and to USA society notably prescription drugs, organ donation, the environment and carbon tax, and to marriage. Here are some simple examples to illustrate the difference between traditional enforced change and 'Nudge' techniques:. This is why corporations use famous 'popular' and relevant endorsees to support their brands. Thaler and Sunstein's original 'Nudge theory' is chiefly concerned with 'behavioral economics' and 'behavioral finance' UK-English: behavioural , being the primary interests of the book's authors. Thaler and Sunstein advocate the use of Nudge for the good of human society and the world we live in. The book is particularly interesting from a general decision-making perspective in its first half, in which 'heuristics', and the ways that people think and decide, are explained in an entertaining and accessible way. A guiding philosophy is certainly required for corporations and governmental authorities, which in modern times routinely exploit people's heuristic weaknesses. Putting fruit at eye level counts as a nudge. Examples and references in other areas of behaviour and decision-making were offered in the book, but not to a great extent, and certainly not to the depth that the potential application of Nudge was explored and proposed in the financial and healthcare fields mentioned. Of course where this equates to changing how the global advertising industry operates, or how the internet is designed and regulated, or how the free market is moderated, this is not a small task, but the process must begin with awareness and intent, and then there is at least a target and aim to improve things, until sufficient will at suitable levels of authority exists. Such a 'toolkit', together with Thaler and Sunstein's explanatory theory and philosophy, reminds all policy-makers, managers and communicators that people rarely think very rationally, and this is the essence of what is now called 'Nudge theory'. Nudge theory accepts that people have certain attitudes, knowledge, capabilities, etc. It's simple and easy if you read a little about it to understand how it works. In the original formulation the term 'prospect' referred to a lottery. Note: This article is not a reproduction or extraction of Thaler and Sunstein's work - it is a summary, interpretation and extension of 'Nudge' theory, including the main terminology, expanded by supplementary methods, with helpful explanations, examples and connections, to related ideas and concepts of motivation and management. The second half of the book analyses various theorized and potential effects of heuristics in the US sectors of:. Nudges are not mandates. The above heuristics are fundamental to the understanding and application of Nudge theory. They are numbered here to help understanding. Amos Tversky is somewhat neglected in citations for Nudge theory because he died in Nudge theory proposes that the designing of choices should be based on how people actually think and decide instinctively and rather irrationally , rather than how leaders and authorities traditionally and typically incorrectly believe people think and decide logically and rationally. In this respect, among others, Nudge theory is a radically different and more sophisticated approach to achieving change in people than traditional methods of direct instruction, enforcement, punishment, etc. Also, the judgment of 'positive outcomes' must be made by the people undergoing the change. Significantly Kahneman dedicated this book to the memory of Amos Tversky. The dictionary definition OED - Oxford English Dictionary of the word 'nudge' in its traditional sense is helpful in appreciating Thaler and Sunstein's approach to the 'Nudge' concept:. It avoids direct instruction or enforcement. Accordingly, 'Prospect Theory', along with other heuristics work of Kahneman and Tversky, formed a substantial part of the development of the Thaler-Sunstein 'Nudge' theory. Perhaps the most compelling early evidence that Nudge theory has become a very significant concept for managing change, people, and societies, is that governments - notably the US and UK - very quickly developed specialized 'Nudge departments' to use Nudge methods in helping to shift societal behaviours on a very big scale. It compares with Norwegian 'nugga' and 'nyggja', to push or rub, which suggests the word may have Norse or Viking origins in English. Nudge theory has evolved significantly since these founding principles were established, and it will continue to grow considerably in future years. Incidentally the origin of the word nudge is uncertain. {PARAGRAPH}{INSERTKEYS}There are lots of these unhelpful 'nudges' everywhere - notably in advertising and government; some accidental, many very deliberate. The first or so pages explain convincingly how people think about choices and make decisions. The effectiveness of the methods are such that the UK government 'Nudge Unit' officially called the 'Behavioural Insights Team' was privatised in very little that has enormous potential is retained by the UK state in modern times.. But Thaler and Sunstein also emphasize the need for Nudge methods to be guided by a need to protect people's freedom of choice; to have compassion for people and society, and to care for the environment and future of the planet. Kahneman and Tversky's 'Prospect theory', and the paper which described it, became regarded as fundamentally important contributions to the understanding of human thinking and decision-making, notably in behavioral economics. The use of Nudge theory is based on indirect encouragement and enablement. Kahneman's book, also a best-seller, ' Thinking, Fast and Slow ', contains much of this fundamental theory which underpins the Thaler-Sunstein 'Nudge' concept. The numbering Thaler and Sunstein did not number these points. In such situations the style and reputation of these 'figurehead' characters in 'choice architecture' can be immensely significant in affecting how people feel towards the 'nudging' authority.