Home at Last lThe book has some value but the titleed me to pick it up under the belief that it might help me to understand myself better and Ranchers Refuge (Whisper Falls, learn better ways to navigate my choices It turned out to be of aaundry Last Seen... list of examples how businesses try to manipulate us aist that was nudged into book Having Gabriels Baby length I was pleasantly surprised by this book It starts outike many other pop psychology books describing an array of psychology experiments that are so often in the iterature But at some point in the book the story takes a turn into a direction that few other books seem to touch Nudge is really about the small subtle pushes that our modern day world makes to sway one s opinion or real world choicesThe book devotes a separate chapter to each of several real world scenarios When a company gives employees a choice among investment plans how should the be described Should there be a default plan such that if no explicit choice is made gets chosen automatically What about health plans they are very complex and is there one that is best for everyone Probably not Then there are mortgage plans organ donation college funds and on and onPeople are often azy and they make a choice once and then forget about it But should a company or a government give a subtle nudge by intelligently designing a form an intelligent default and so on Or should the choice be The Mediterranean Billionaires Blackmail Bargain left 100% to the customerThe authors of this book argue thatibertarian paternalism may be the answer Give people the full cast of choices and give people the freedom to make the wrong choices But also give people a default choice that may be better than most of the choicesSome choices are fixable If you take your clothes to a dry cleaning establishment and they do a poor job then the next time it is easily correctable in the future just take your clothes somewhere else But other choices are not correctable How many chances do you have in choosing a spouse While in theory it is a correctable choice it is not one that my people make over and over again And by the way why should the government have any say at all about marriages If there are any government benefits to marriage say taxes A Christmas Seduction laws etc why not distribute those benefits to everyone The authors argue that there is not reason for the government to be in the marriage business at allThis book is a uick and easy read I recommend it to people who are trying to formulate policies and even to those who are designing forms for public use This is a terrific book The authors cover terrain which has been explored recently in a whole slew of booksoosely speaking why we humans persistently engage in behavior patterns which do not benefit us in the The Pregnant Midwife long term Their own research at the University of Chicago builds upon the work of Tversky and Kahneman in behavioral economics very much in vogue this past few years In the book they provide a funny engaging remarkably clear exposition of the various factors whichead us to make poor decisions This alone would make it worth reading What makes this book stand out though is that they actually suggest remedies that might help us save ourselves from our own flawed gut instincts This one took me The Simple Soul of Susan longer to read that is reasonable for a book of itsength or the clear style it is written in I mean such a simply written text of 250 pages ought to have finished in no time The problem was that I don t NetBeans IDE 8 Cookbook live in the US and so many of the examples made the book a struggle for me All the same there are ideas in this book that are important no matter where youiveDon t you just Master Locksmithing love the internet I wanted to start this paragraph with that uote by G ring when I hear the word culture I reach for myuger but it turns out it is actually a uote from a play by Hanns Johst which is even better Whenever I hear of culture I release the safety on my Browning I have much the same reaction when I hear the word choice There is a false euality set up between freedom and choice It is as if the two terms are identical Since I ve had to read through dozens of American examples in this book of why this identity may not always apply I would Born to Blog like to give an Australian example to explain some of the key concepts of this bookA couple of decades ago Australian workers went without a national pay increase and rather had this money directed into superannuation Superannuation is essentially forced saving for retirement Over the years this reuired percentage of an employee s wage dedicated to superannuation has increased so that today it stands at 9% Everyone knows that if people are to retire on anythingike their current salary they need to put aside around 15% of their The New Alpha lifetime earnings The gap between 9% and 15% is one that will be for most people borne by reducediving standards at the end of their ivesThe previous Australian Government decided that it would be a good idea to introduce choice into the superannuation system So whereas previously most people were corralled into
mostly industry superannuation funds that were not for profit meaning they had ow fees and profits went back into the fund industry superannuation funds
"that were not "were not profit meaning they had Fitzpatricks Dermatology in General Medicine, Eighth Edition, 2 Volume Set low fees and profits went back into the fund new system opened up the superannuation business to private operators People would now be able to choose which fund to invest their money in Where did I put that LugerThe industry funds obviously didn tike this idea But The Dual Diagnosis Recovery Sourcebook like choice competition is always a good thing and can never be criticised right Well it is not uite so easy The problem is that the industry funds asked the previous government to structure the new system so that all funds would have to disclose all fees and charges associated with their products This would clearly have favoured the industry funds that often don t charge fees at all The government refused to include this disclosure of information as a proviso in theegislationOf course this made freedom of choice a bit of a joke You can t really have freedom if your choice is also based on your being free from vital informationWhat made matters worse was that the financial planning industry in Australia isn t as well regulated as it might be Financial planners generally receive commissions from the financial institutions whose products they sell oh sorry encourage you to take up So rather than providing you with a plan that is uneuivocally in your best interests the financial planner you are seeing may have actually will have a strong motivation to provide you with information that is in their best financial interests rather than yoursEconomists would say that despite all of the obvious problems with this new system of choice it is still better as people always act in their own best interests as rational economic agents and choice even if some of those choices might be biased against people is always betterThe writers of this book define themselves as Libertarian Paternalists Essentially they also believe that choices are good things however they acknowledge that choice alone isn t enough and that people aren t always economically rational entitiesOne of the ideas I found most useful in this book is the idea of choice architecture They do not believe in taking choices away from people but they recognise that being presented with a bewildering array of choices is often enough to stop people from making any choice at all The book opens with a discussion of a school cafeteria and how you can affect the eating habits of kids simply by how you place the food on display That is putting healthier food at eye evel rather than fatty sugary foods will nudge kids towards eating healthy food This is not a subtle change this nudge can drastically improve the eating choices made by the kids The kids still have a choice to eat rubbish but this simple change nudges them towards eating better The point is that you simply don t have the option to display the food in a non nudge way You have to make some choice about how you are going to display the food so doesn t it make sense to set up the display "So That People Are "that people are towards eating well rather than badlyChoices don t occur in a vacuum and one of the essons of this book is that if we are going to provide choices we need to think about the conseuences of the choice architecture we put in place in which those choices are going to be madeAnother of those pieces of choice architecture is going to depend on what is the default choice This is because people being people many of us are going to get bored early on in the decision making process and just go for the default Therefore the default should be the choice that is most Writing Matters! - Student Book likely to meet the needs of those reuired to make the choice There is a very disturbing discussion of the Part D prescription drug coverage process in the US in which people who do not make what is an incredibly difficult choice are randomly assigned to a range of default plans that takes the principle of government non intervention to absurd extremesThe other idea that is very strongly pushed in this book is that people are very muchoss averse This is an idea that has been in virtually ev. From the winner of the 2017 Nobel Prize in Economics Richard H Thaler and Cass R Sunstein a revelatory ook at how we make decisionsNew York Times bestsellerNamed a Best Book of the Year by The Economist and the Financial Times Every day we make choices about what to buy or eat about financial investments or our children’s health and educati. ,
And choice architecture in the contexts of investing health insurance organ donation school choice privatizing marriage and other areas The most compelling chapter for me was on Medicare Part D because I m kind of a health insurance nerd Weaker chapters were on school choice the authors uncritically accept the notion that vouchers are good and on medical malpractice insuranceOn the atter they argue that the price of health insurance contains the cost of malpractice awsuits and therefore if a buyer of health insurance could waive filing such suits their health insurance premium would be cheaper and doctors and hospitals would also be able to charge them ess They claim that malpractice awsuits increase medical costs by 5 to 9 per cent First who knows if that hazy range of numbers is accurate Although tort reform is of course ovingly put forward by Republicans every time the issue of healthcare costs arises the consensus among non Republicans is that malpractice Doing Democracy in Indigenen Gemeinschaften litigation costs are a tiny percentage of overall costs and not worth addressing What bugs me about this chapter is that the authors never bother to ask or to address just because the cost ofawsuits might vanish from their bottom The Secrets of Boys line why do we automatically believe that doctors and hospitals would charge a patientess rather than take the savings as increased profit How would having two types of health insurance policies one where you could sue your doctor and one where you couldn t affect the doctors themselves Would doctors take patients from each category or would they restrict their practices only to patients who had agreed not to sue them If the former would they charge different prices to the patients according to whether or not they might sue In other words this is interesting theoretically but how would it work in practice The authors don t care because they are mostly interested in these clever theoretical notionsThe chapter on privatizing Social Security was another instance of mental masturbation It ooked at the system in Sweden where accounts had been privatized to see how the choice architecture had affected the way beneficiaries designed their investment plans Yet the authors don t uestion whether privatizing Social Security is a good idea or a terrible idea even though the paperback edition of the book went to press after the giant stock market crash of 2008 2009 and the book contains a postscript discussing some aspects of the crash that could have been avoided with proper nudges They merely advise that although George W Bush s yearning to privatize never went anywhere some version of this proposal is ikely to be considered again before Charlie and the Christmas Kitty long Well the crash of 2008 killed all thoughts of Social Security privatization ateast until we become idiots again Obviously when countries and economies are run by idiots all bets are offThey wrap up the book with ideas presented to them via their website for other nudges The stupidest of these is trayless cafeterias when people use trays they tend to waste food and napkins which is a splendid idea for societies where people have four hands I don t understand why this is a runaway bestseller it s just not that enthralling I ve been reading Il sale della vita lots of booksately about behavioral psychology and economics why people make the decisions we do economically and in other My Favorite Things life areas But Predictably Irrational and Made to Stick both explore these uestions in a much engaging wayNudge is mostly concerned with how companies and governments can practice what the authors termibertarian paternalism gently noncoercively pushing people toward doing something that they really want to do For example a company might by default enroll new employees in a 401K plan and put a certain salary percentage into that plan The employees can opt out or change their contribution amount at any time but by enrolling everyone by default the company does an end run around its workers natural procrastination tendencies without forcing them into anythingAnother use of nudging this one on the state evel might be to reuire that everyone signing up for a driver s icense check a box saying either Yes I want to be an organ donor or No I don t wish to be an organ donor Or a state could change its aws so that people are by default assumed to be willing donors unless they say they don t want to This would greatly increase the number of organs available for emergency transplantsSo interesting stuff but not enough to fuel an entire book I wound up skimming uite a bit and while some of the anecdotes are funny and interesting many of the writers proposals are dry unless you happen to be fascinated by the particular social or economic issue they re addressing It s worth picking Nudge up to see if it grabs you just don t be surprised if it ets go about 100 pages in December bookclub read for my sit in bookclub and when it ets go about 100 pages in December bookclub read for my sit in bookclub and when checked in my book shop for this Book and was directed to the
section I did uite a bit eye rolling I had automatically decided I wasn t going to ike this book and as christmas reading goes this was going to be a taxing read But I was pleasantly surprised at how readable and relatable the book was and how our decision making can be influenced by Nudges of all kinds and how society reacts to NudgesOnly 3 out 10 people in the group finished the book and yet the discussion created was Hiding in the Bathroom lively and interesting with everyone participating and having an opinion Not one I would be recommending but certainly a book that has food for thought As an economist Nudge was a book that I desperately wanted toike Unfortunately I was disappointed Perhaps my The Perils of Pursuing a Prince (Desperate Debutantes, low rating of the book stems from my high expectations of a book co authored by the well regarded behavioral economist Richard Thaler Without such expectations my rating might have been higher But at the same time without such expectations I might not have bothered to read the book at allThe only interesting part of the book is the first part which consists of the first five chapters Here the authorsay out the main premise of the book The decisions humans make are affected by nudges Since nudges are not easy to define they are best explained through examples The clearest example of a nudge is a default When you register online at a site you are often asked Would you The Barracks Thief and Selected Stories like to receive future emails By default this box could be either checked or not checked The default matters that is different results emerge under different defaults The main point of the book is that nudges matter and thus should be carefully designedThe rest of the book presents aaundry Becca and the Prisoners Cross (The Copernicus Legacy list of policies to which we should apply this principle For me this got boring fast For some reason the authors seem to be obsessed with identifying every possible nudge and offering their nudge design suggestions The end of the paperback version of the book became really ridiculous a bonus chapter of twenty nudges I think that the hardcover version is saved from this madness because the bonus chapter was added after the publication of the hardcover versionMany may find Nudge overly political The authors weigh in on what they believe to be good nudges on aarge number of hot political issues such as Medicare and same sex marriage I personally didn t mind their political stances as much as I minded the The Commodore (Aubrey/Maturin, lack of economicsThe book is also poorly written I felt that the publishers gave the authors complete free reign since the authors were well regarded academics and obviously academics don t need editors One problem with the writing was theack of a targeted audience The book is supposed to be targeted towards a mass audience or at east that is the target of the book s marketing efforts It is not a textbook or standard teaching material targeted towards undergraduate economics majors It is also not a serious academic discourse targeted towards other economists And yet although it s supposed to be targeted towards the ayman the writing is oftentimes confused about its audience Additionally I didn t care for the writing style While I do enjoy a casual and conversational tone this book suffered from unnecessary tangential remarks that detracted from the main point All of the writing issues in this book could have been easily rectified with a good editor I don t fault the authors as much as I do the publishers for that oversightI weakly recommend Part I of Nudge to the intellectually curious The Texas Rangers Heiress Wife layman The rest of the book I recommend only to those want to read aaundry ist of political suggestions I second guessed my purchase of Richard Thaler and Cass Sunstein s Nudge Improving Decisions About Health Wealth and Happiness almost the minute I receivedECONOMICSBUSINESS Section I Did Uite A Bit
my e mail receipt I had already read Malcom Gladwell s Blink and heard about the iterary disaster thate mail receipt I had already read Malcom Gladwell s Blink and heard about the Eternal Quest literary disaster that Sway and yet there I was reading Nudge s introduction about the arrangement of cafeteria foodI m glad I did While Thaler and Sunstein are happy to revel in the small ways that their insights into choice archi. How that no choice is ever presented to us in a neutral way and that we are all susceptible to biases that canead us to make bad decisions But by knowing how people think we can use sensible “choice architecture” to nudge people toward the best decisions for ourselves our families and our society without restricting our freedom of choice. .