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Nudge: Improving Decisions About Health, Wealth, and Happiness [Hardcover]

Richard H. Thaler , Cass R. Sunstein
2.0 out of 5 stars  See all reviews (1 customer review)
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Book Description

April 8 2008

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 in this important exploration of choice architecture, 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.


 


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"I love this book. It is one of the few books I've read recently that fundamentally changes the way I think about the world. Just as surprising, it is fun to read, drawing on examples as far afield as urinals, 401(k) plans, organ donations, and marriage. Academics aren't supposed to be able to write this well."—Steven Levitt, Alvin Baum Professor of Economics, University of Chicago Graduate School of Business and co-author of Freakonomics: A Rogue Economist Explores the Hidden Side of Everything
(Steven Levitt)

"In this utterly brilliant book, Thaler and Sunstein teach us how to steer people toward better health, sounder investments, and cleaner environments without depriving them of their inalienable right to make a mess of things if they want to. The inventor of behavioral economics and one of the nation's best legal minds have produced the manifesto for a revolution in practice and policy. Nudge won't nudge you—it will knock you off your feet."—Daniel Gilbert, professor of psychology, Harvard University, Author of Stumbling on Happiness
(Daniel Gilbert)

“This is an engaging, informative, and thoroughly delightful book. Thaler and Sunstein provide important lessons for structuring social policies so that people still have complete choice over their own actions, but are gently nudged to do what is in their own best interests. Well done.”—Don Norman, Northwestern University, Author of The Design of Everyday Things and The Design of Future Things
(Don Norman)

“This book is terrific. It will change the way you think, not only about the world around you and some of its bigger problems, but also about yourself.”—Michael Lewis, author of The Blind Side: Evolution of a Game and Liar's Poker
(Michael Lewis)

"Two University of Chicago professors sketch a new approach to public policy that takes into account the odd realities of human behavior, like the deep and unthinking tendency to conform. Even in areas—like energy consumption—where conformity is irrelevant. Thaler has documented the ways people act illogically."—Barbara Kiviat, Time
(Barbara Kiviat Time 2008-04-03)

"Richard Thaler and Cass Sunstein's Nudge is a wonderful book: more fun than any important book has a right to be—and yet it is truly both."—Roger Lowenstein, author of When Genius Failed
(Roger Lowenstein)

"A manifesto for using the recent behavioral research to help people, as well as government agencies, companies and charities, make better decisions."—David Leonhardt, The New York Times Magazine
(David Leonhardt The New York Times Magazine)

“How often do you read a book that is both important and amusing, both practical and deep? This gem of a book presents the best idea that has come out of behavioral economics. It is a must-read for anyone who wants to see both our minds and our society working better. It will improve your decisions and it will make the world a better place.”—Daniel Kahneman, Princeton University, Nobel Laureate in Economics
(Daniel Kahneman)

"Engaging, enlightening."—George Scialabba, Boston Sunday Globe
(George Scialabba Boston Sunday Globe 2008-05-18)

"The suggestions in Nudge provide fascinating examples of how tiny changes in context can cue radically different behaviour. Awareness of these cues empowers consumers, voters and decision-makers."—Rebecca Walberg, National Post
(Rebecca Walberg National Post 2008-06-21)

"An essential read . . . an entertaining book. . . . The book isn't only humorous, it's loaded with good ideas that financial-service executives, policy makers, Wall Street mavens, and all savers can use."—John F. Wasik, Boston Globe
(John F. Wasik Boston Globe 2008-07-22)

From the Author

A conversation with Richard Thaler & Cass Sunstein

 

Q: What do you mean by "nudge" and why do people sometimes need to be nudged? 

A: By a nudge we mean anything that influences our choices. A school cafeteria might try to nudge kids toward good diets by putting the healthiest foods at front. We think that it's time for institutions, including government, to become much more user-friendly by enlisting the science of choice to make life easier for people and by gentling nudging them in directions that will make their lives better.

 

Q: You discuss tricks our minds play on us, and biases we have. What are some of those? 

A: As with visual or optical illusions, our minds can play tricks on us. For example, we are very sensitive to the way choices are described or "framed." A medical treatment can be made more or less attractive depending on whether the outcomes are described in terms of the chances of survival or the chances of death, even though these are, of course, equivalent.

 

Q: What are some of the situations where nudges can make a difference?

A: Well, to name just a few: better investments for everyone, more savings for retirement, less obesity, more charitable giving, a cleaner planet, and an improved educational system. We could easily make people both wealthier and healthier by devising friendlier choice environments, or architectures.

 

Q: Can you describe a nudge that is now being used successfully? 

A: One example is the Save More Tomorrow program.  Firms offer employees who are not saving very much the option of joining a program in which their saving rates are automatically increased whenever the employee gets a raise. This plan has more than tripled saving rates in some firms, and is now offered by thousands of employers.

 

Q: You are very adamant about allowing people to have choice, even though they may make bad ones. But if we know what's best for people, why just nudge? Why not push and shove? 

A: Those who are in position to shape our decisions can overreach or make mistakes, and freedom of choice is a safeguard to that. One of our goals in writing this book is to show that it is possible to help people make better choices and retain or even expand freedom. If people have their own ideas about what to eat and drink, and how to invest their money, they should be allowed to do so.


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2.0 out of 5 stars Very theoretical, very American Dec 22 2011
By Susan
Format:Hardcover|Verified Purchase
Although there are many interesting ideas in Nudge, the book is very theoretical and academic, with few real-life applications - except as they pertain to American social policy recommendations. Not really a general interest book.
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Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com: 3.7 out of 5 stars  117 reviews
350 of 420 people found the following review helpful
5.0 out of 5 stars The elephant in the room. March 23 2008
By D. Stuart - Published on Amazon.com
Format:Hardcover
Richard H. Thaler and Cass R. Sunstein are both professors at the University of Chicago and where the Chicago school was once famous for the Milton Friedman doctrine of free markets (look where they've got us today!) Thaler and now his Law professor friend Cass Sunstein have swung the pendulum the other way.

Here in Nudge, they argue that totally free markets can lead to disasters precisely because human individuals are not actually very good decision-makers. As Behavioural Economists (Kahneman & Tversky Judgment under Uncertainty: Heuristics and Biases- who credited Thaler as being a key inspiration - and Dan Ariely, whose Predictably Irrational: The Hidden Forces That Shape Our Decisions has become a best seller) argue, we are riddled with little psychological tics in our decision-making processes. We buy things, then suffer remorse. We get confused by choices and often make no choice at all.

But where Ariely keeps his discourse in the world of the day to day, Thaler and Sunstein develop an argument that is political - and is bound to cause heated debate. What they argue is that, in the face of our decision-making weaknesses, Governments and Businesses can help "nudge" us in the right direction. The elephant in the room can be benign.

They call their viewpoint `libertarian paternalism' and what they argue is that it would be a good thing for some gentle nudging of the citizenry in the right direction. As Thaler said recently in the New York Times: "In light of human limitations, Cass Sunstein and I argue for policies that we call libertarian paternalism. Although the phrase sounds like an oxymoron, we contend that it is often possible to design policies, in both the public and private sector, that make people better off -- as judged by themselves -- without coercion. We oppose bans; instead, we favor nudges."

How does a Government do this without imposing laws and edicts. A primary argument is that defaults can be set that counter the tendency by humans to procrastinate or make no decision. One example is the Save More Tomorrow Plan which Thaler developed back in 1996 as an employer sponsored retirement plan for employees. Instead of presenting the details and asking employees to consciously sign-up to increase their savings each time they got a pay rise, the plan presented the details and asked employees to basically check the box if they wished in future to automatically increase their savings as their pay went up. To pre-commit. Such schemes have proved very successful, yet they offer the same free choice, though with a different default.

As Thaler argues: "Since it is often impossible for private and public institutions to avoid picking some option as the default, why not pick one that is helpful?"

Another form of nudge might be the act of disclosure. Thaler & Sunstein argue, for example that credit card companies should issue annual statements that tell us how much we've spent this year on late fees and interest. Again: we have the complete freedom to use cards as we want, but the additional information may help us reframe our own spending strategies. Or how about stickers on new cars that show how much gasoline each vehicle would burn over the next 5 years under typical usage. Hold that Hummer.

These are examples of what the authors call helpful "choice architecture." Nice phrase. The architecture puts our options on more clear display.

I must say, I like the thinking here, and it gives credence to agent-based simulation modelling I've carried out whereby small changes can lead to big effects.

But this volume is about more than modelling and mere theory. One cannot help but think that the book has been timed to coincide with the meltdown of the present economy. The free market, the totally free market, the authors implicitly argue, needs quite a nudge itself. Rather than seeking highly regulated solutions, the better response might simply be a series of tweaks to the choice architecture that influences our spending, saving, health care and borrowing patterns.

The authors present a clear argument and no doubt it will cause heated and lively debate. This book has landed like a rock, right into the centre of the current and somewhat stagnant economic pond. It will definitely cause ripples. Well worth reading.
82 of 96 people found the following review helpful
1.0 out of 5 stars A little of everything, and therefore unfortunately not much of anything Nov. 3 2010
By Amazon Customer - Published on Amazon.com
Format:Kindle Edition|Verified Purchase
This book covers a lot of ground, and none of it is covered with any rigour or depth.

There are occasional interesting pieces of insight - for example, if you want people to reduce their energy usage, it may be enough to tell above-average users that they are in that category - below-average users, not so much, they may then use more energy - but you can counter this by a nice smiley emoticon next to where that fact is displayed (implying they're doing a great thing by using less energy) and their usage will stay low.

The problem is, to gain these nice pieces of insight, I had to dig through much much more content that was not covered well.

Here are some of the the things you'll find in this book

- A superficial review of psychology research concerning a few factors on how people make choices (For example, too many choices lead to overwhelm and bad decisions. Another example - people can be influenced to make a bad decision if others around them are making bad decisions).
- A explanation of how people can be helped to make good choices, for example with food, by where food is placed on store shelves (e.g. at eye level vs not).
- Many many pages of excruciating detail on why choices of medical insurance plans can be a complex and painful process. Ditto for how the complexity of investing can lead to bad investment choices. None of this is original.
- A fairly basic solution proposed to complexity of choices - regulations to require providers to provide information on the implications of their choices - for example, lenders should provide documentation of the implications of a given choice of loan - what you'd end up paying over time (not just at the time of initial "special deals") and what the worst case scenario would imply in terms of costs for you. This information, the authors advise, should not be buried in the fine print. Very very obvious stuff.
- A chapter on making organ donation to be opt-out instead of opt-in. One of the better chapters, with some evidence given of it having worked in some countries. But could have been dealt with in a few paragraphs, did not need to be stretched to a chapter (admittedly a short chapter).
- Some attempts at philosophical argument for why governments should be allowed to "nudge" people to better choices, but not done to any depth or rigour.
- Several side comments that did not provide any new insights - for example, that the principle of what actions are being taken by those in authority should be transparent might have prevented the atrocities at Abu Ghraib. Again, nothing original here.
- Several trite pieces of advice about how publicising a commitment you've made (e.g. to lose weight) and setting up disincentives for failure (e.g. a certain amount of money to be donated to a cause you disapprove of) can help you achieve the goal. Again, nothing new here.
- A more reasonable chapter on privatizing marriage - the goal being to allow religious groups to endorse marriages based on their convictions, but for all partnerships to be granted equal legal status. Not really related to the concept of nudging though, and drawn out and padded with sociological thoughts on what function marriage has historically served, which does not seem to be the authors' field of expertise.
- Random pieces of advice such as permitting motorcycle riders to not wear helmets if they take extra training and show evidence of medical insurance. If I could be sure that they are also paying higher insurance premiums I might not be too annoyed at that one, but the authors don't venture into this area of discussion so again I felt their treatment of this topic was incomplete.
- A recommendation that the Social Security Administration assist those claiming benefits by making more clear at what age you should start collecting the benefits if you want to obtain the maximum amount of money by it (allowing for things like, maybe I'm ok with less money if I want it sooner). Having a payer assist a payee in taking maximum advantage is nice and altruistic, good luck with getting that happening.

Overall it felt like the authors had a collection of unrelated instances of advice that they were trying to force to fit the concept of a "nudge".

If you are interested in this kind of content from a psychology viewpoint, read Freakonomics (Dubner and Levitt), Predictably Irrational (Ariely), Influence (Cialdini), Tipping Point (Gladwell). For the investment advice and bits of self-help associated with that, David Bach does a better job in his various books.
105 of 131 people found the following review helpful
5.0 out of 5 stars Important for medical decisions as well March 31 2008
By Alan Schwartz - Published on Amazon.com
Format:Hardcover
"Buy on apples, sell on cheese" is an old proverb among wine merchants. Taking a bite of an apple before tasting wine makes it easier to detect flaws in the wine, and the buyer who does so will not as easily make the mistake of paying more than the wine is worth. Cheese, on the other hand, pairs well with wine and enhances its flavor, so a seller who offers cheese may command a higher price for the wine (and may even deserve it, if the wine is intended to be drunk with cheese).

The proverb captures important psychological nuances of choice. The same product - a bottle of wine or a risky medical procedure - may be perceived differently depending on its context, and it is often possible to arrange the context to influence a choice while still maintaining the decision maker's autonomy.

The practice of structuring choices is called "choice architecture" in a brilliant and important new book, Nudge, by University of Chicago Distinguished Professors Richard Thaler (Business) and Cass Sunstein (Law). Nudge lays out the groundwork for the science of choice architecture in investing, insurance, health care delivery, and other areas, and argues for a "libertarian paternalism" in which choices are structured to make it more likely that a decision maker will select what is considered the most beneficial option, without impairing the ability to decision makers to select other options. For example, making enrollment in 401(k) plans automatic for new employees, with a form for opting out, is likely to result in greater retirement savings than an opt-in system, without limiting anyone's freedom to choose.

Thaler and Sunstein apply the principles of choice architecture to a few problems in health care (How could Medicare part D be improved? How can organ donation rates be increased? Why shouldn't patients be allowed to waive their right to sue for medical negligence in return for cheaper health care?) But the concepts in the book go beyond their specific examples and could prove very useful to practicing clinicians, who, they note, are often in the position of being choice architects for their patients.

Their principles of choice architecture (paraphrased by me and focused on physicians helping patients make decisions) are:

* Make sure incentives are aligned with desired outcomes
* Help patients map outcomes of different alternatives into formats they can understand (a major focus of Medical Decision Making as well)
* Arrange default options to favor better health. Pediatricians have done a good job of making vaccination a default option.
* Provide timely and relevant feedback about choices and outcomes. A patient seeking to lose weight needs to experience feedback in the form of measurable progress soon enough that they are not discouraged.
* Expect error and develop systems to prevent, detect, and minimize it. For example, pill cases and inhalers with dosage counters are simple and valuable ways to reduce the frequent errors people make in remembering medication. Psychological research provides direction as to what kinds of errors are to be expected when people are making decisions.
* Structure complex choices to reduce the difficulty of making good decisions. In many ways, that's what medical decision making -- and Medical Decision Making -- is about.

I highly recommend Nudge. It's a great read, and has the potential to change the way you think about clinical practice and medical decisions.
40 of 51 people found the following review helpful
3.0 out of 5 stars A little dense and not my cup of tea May 22 2008
By Ken Montville - Published on Amazon.com
Format:Hardcover|Verified Purchase
The sub title of the book "Improving Decisions about Health, Wealth and Happiness" should have been a hint at what the book was really about which is "choice architecture" a way to further "libertarian paternalism" meaning that if choices are presented to you in a certain way, you'll make better choices and it'll seem like you're making the choice of your own free will instead of being "nudged" into making the "right" choice.

I'm a big fan of learning why we make the types of choices we make and possibly how to influence those choices. I'm also a big fan of learning how to make better choices for myself.

This book, however, leans heavily to the public policy side of things like how to get people to choose more wisely for retirement savings and the like. It really isn't about Health, Wealth and Happiness. It's about creating systems to "nudge" people into making choices they might not otherwise make.
42 of 55 people found the following review helpful
5.0 out of 5 stars Economics as though real humans mattered April 22 2008
By Stephen R. Laniel - Published on Amazon.com
Format:Hardcover
Nudge's purpose is to use our understanding of Man As He Is to build better policies. Rather than assume a perfectly rational human who can parse long, complicated documents with his mighty, limitless brain, Man As He Is sometimes skims and can be deceived by cleverly worded contracts. Man As He Is is often aware of his own limitations: he'll flush his cigarettes down the toilet to prevent his future self from doing what his present self knows to be harmful; he'll promise to start exercising tomorrow; and he'll curse himself for procrastinating. Perfectly Rational Man -- whom Thaler and Sunstein call an "Econ," to be contrasted with a "Human" -- would never have these problems. Econs sit down with (notional) pencil and paper and calmly work out the costs and benefits of all available actions, then take the action that maximizes their present and future happiness subject to a discount rate (future happiness is worth less than the same quantity of present happiness). They don't have an internal procrastinator at war with a rational planner, nor do they ever regret on Sunday morning what they did on Saturday night.

Nudge is for Humans, not Econs. Nudge realizes, for instance, that making 401(k)s opt-out rather than opt-in, and setting a reasonable default investment plan, will lead lots more people to save money for retirement. And now that they've been enrolled, very few people will opt out. This is what Thaler and Sunstein call "libertarian paternalism": giving people a gentle push in the direction of their own best interests (the "paternalism" part), but never taking away choices (the "libertarian" part). People can quit at any time; it's only the default that has changed.

Your 401(k)'s default investment plan is part of what Thaler and Sunstein call "choice architecture." As a 401(k) administrator, I can guide your choices in any number of ways. I can choose opt-in or opt-out; if I choose opt-out, I have to choose a default plan, whereas if I choose opt-in, I have to decide how much prodding to give you. The point is that choice is inevitable. There's no way to avoid structuring the options available to people, so the right thing to do is to pick the best default. Given this realization, most of Nudge will be entirely uncontroversial.

Thaler and Sunstein digest a mountain of psychological research and reassemble it into a convincing story about how to build policies that correct for human failings. Humans can be expected to make the right decision when faced with a routine, concrete problem -- buying food at the grocery store, say -- but all bets are off when we're asked to evaluate a complicated, large-scale problem like the impact of our air-conditioner usage on global climate change. Thaler and Sunstein want to give the market itself a nudge here. They wouldn't insist that we buy only low-power appliances. Instead, they want our appliances to give us simple, immediate feedback on our energy usage: thermometers that reveal moment-to-moment energy costs, say, and EPA fuel-economy infographics that use easy-to-understand metrics like "dollars per year."

Econs may be able to consume any information thrown at them and correctly render a judgment from what they read; Humans have finite attention spans and would rather spend time with their families than pore over fuel-economy tables. If we want Humans to make the best choices, we have to structure their choice environment to make this possible. Nudge is Thaler and Sunstein's brilliant contribution toward this goal.
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