Most helpful critical review
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Behavioral economists suggest timely and relevant solutions to real-world problems
on December 19, 2014
This book came way after the Freakonomics series and other similar books by the legendary Daniel Kahneman. However, they all cover similar topics that are part and parcel of the ever growing field of Behavioral Economics. Therefore, as I was reading through Nudge, I could not help but think that it was an attempt to ride the recent wave.
But, that does not mean the book and its concepts are not relevant. Thaler and Sunstein have worked on this field for decades and are experts on the field. So, they cannot be accused of trying to ride the waves. The book argues that "humans" are not able to make the best decisions for themselves, unlike "econs". And, it argues for "nudges" to help make these humans choose the optimal solutions that they always say they want to achieve but don't act on it. While all that is fine, I thought the abbreviation for these so-called nudges, which was N-U-D-G-E-S, appeared kind of forced. Nevertheless, the ideas are timely and relevant.