Nudge: Improving Decisions about Health, Wealth, and Happiness

Nudge: Improving Decisions about Health, Wealth, and Happiness

by Richard H. Thaler, Cass R. Sunstein

Narrated by Sean Pratt

Unabridged — 10 hours, 36 minutes

Nudge: Improving Decisions about Health, Wealth, and Happiness

Nudge: Improving Decisions about Health, Wealth, and Happiness

by Richard H. Thaler, Cass R. Sunstein

Narrated by Sean Pratt

Unabridged — 10 hours, 36 minutes

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Overview

From the winner of the Nobel Prize in Economics, Richard H. Thaler, and Cass R. Sunstein: a revelatory look at how we make decisions-for fans of Malcolm Gladwell's Blink and Daniel Kahneman's Thinking Fast and Slow.



Every day we make choices-about what to buy or eat, about financial investments or our children's health and education, even about the causes we champion or the planet itself. Unfortunately, we often choose poorly. Nudge is about how we make these choices and how we can make better ones. Using dozens of eye-opening examples and drawing on decades of behavioral science research, Nobel Prize winner Richard H. Thaler and Harvard Law School professor Cass R. Sunstein show that no choice is ever presented to us in a neutral way, and that we are all susceptible to biases that can lead 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.

Editorial Reviews

Benjamin M. Friedman

Yes, there is such a thing as common sense—and thank goodness for that. At least that's this reader's reaction to Richard Thaler and Cass Sunstein's Nudge, an engaging and insightful tour through the evidence that most human beings don't make decisions in the way often characterized (some would say caricatured) in elementary economics textbooks, along with a rich array of suggestions for enabling many of us to make better choices, both for ourselves and for society.
—The New York Times

Library Journal

In the first of these two books exploring human behavior and the choices we make, organizational expert Ori Brafman (coauthor, The Starfish and the Spider: The Unstoppable Power of Leaderless Organizations) and his psychologist brother, Rom, an organizational expert, discuss the various psychological forces (e.g., diagnosis bias and loss aversion) that cause people to act irrationally. To help illuminate their discussion, they draw on the latest research in social psychology, behavioral economics, and organizational behavior. In Nudge, Thaler (behavioral science & economics, Graduate Sch. of Business, Univ. of Chicago) and Sunstein (jurisprudence, Univ. of Chicago Law Sch.) consider how the science of choice can gently "nudge" individuals toward making life-improving decisions. They divide the text into five parts-"Humans and Econs," "Money," "Health," "Freedom," and "Extensions and Objections"-and employ numerous examples throughout. Easy to read, conversational in tone, and story-driven, Sway is suitable for public libraries. Nudge, a more research-based analysis full of practical solutions to real-life problems, is strongly recommended for public libraries.
—Anita N. Jennings

From the Publisher

"[A] new book applying the lessons of social psychology and behavioral economics to everything from health care to climate maintenance. The authors of Nudge . . . agree with economists who'd like to reduce greenhouse gas emissions by imposing carbon taxes or a cap-and-trade system, but they think people need extra guidance."—John Tierney, New York Times

"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

"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

"Engaging, enlightening."—George Scialabba, Boston Sunday Globe

"Sunstein and Thaler are very persuasive. . . . Great fun to read."—Dahlia Lithwick, Slate

"An engaging and insightful tour through the evidence that most human beings don't make decisions in the way often characterized in elementary economics textbooks, along with a rich array of suggestions for enabling many of us to make better choices, both for ourselves and for society. . . . The conceptual argument is powerful, and most of the authors' suggestions are common sense at its best. . . . For that we should all applaud loudly."—Benjamin M. Friedman, New York Times Book Review

"By a 'nudge,' Thaler and Sunstein mean a policy intervention into choice architecture that is easy and inexpensive to avoid and that alters people's behavior in a predictable way without forbidding any options or significantly changing an individual's economic incentives. . . . Thaler and Sunstein stress that if 'incentives and nudges replace requirements and bans, government will be both smaller and more modest.'"—George F. Will, Newsweek

". . . an excellent rendition of how human beings view choices and make decisions."—Gurumurthy Kalyanaram & Sunanda Muralidharan, International Journal of Pharmaceutical and Healthcare Management Vol 5.4

"As important a book as I've read in perhaps 20 years. It is a book that people interested in any aspect of public policy should read. It is a book that people interested in politics should read. It is a book that people interested in ideas about human freedom should read. It is a book that people interested in promoting human welfare should read."—Barry Schwartz, The American Prospect

"Nudge helps us understand our weaknesses, and suggests savvy ways to counter them."—Emily Bobrow, New York Observer

"This Poor Richard's Almanack for the 21st century . . . shares both the sagacity and the witty and accessible style of its 18th century predecessor."—Benjamin Gregg, Law and Politics Book Review

"As bookstore shelves fill up with works by parlor-room thinkers who would entertain us with their economic nonsense, an entertaining book that also deeply informs could get lost in the shuffle. That book is Nudge. . . . Thaler and Sunstein's . . . attempt to deal with difficult issues is always stimulating."—Gene Epstein, Barron's (One of this season's recommended page-turners on economic, financial and political-economic issues)

"Entertaining, engaging, and well written. . . . Highly recommended."—Choice

A 2007 Top Seller in Business and Economics as compiled by YBP Library Services


Selected as a finalist for the 2008 TIAA-CREF Paul A. Samuelson Award, given by the TIAA-CREF Institute

Named one of the best business books of 2008 by The Financial Times


Silver medal winner of the 2008 Book of the Year Award in the category of Business & Economics, presented by ForeWord magazine

Winner of the 2010 Kulp-Wright Book Award, given by the American Risk and Insurance Association

"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




"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




"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




"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



"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




Boston Globe - John F. Wasik


"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

National Post - Rebecca Walberg


"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

Boston Sunday Globe - George Scialabba


"Engaging, enlightening."—George Scialabba, Boston Sunday Globe

Daniel Kahneman

“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

The New York Times Magazine - David Leonhardt


"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

Roger Lowenstein

"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

Time - Barbara Kiviat


"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

Michael Lewis

“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

Don Norman

“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

Daniel Gilbert

"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

Steven Levitt

"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

Boston Globe

"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

National Post

"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

Boston Sunday Globe

"Engaging, enlightening."—George Scialabba, Boston Sunday Globe

— George Scialabba

The New York Times Magazine

"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

Time

"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

MARCH 2009 - AudioFile

Fans of Malcolm Gladwell's OUTLIERS or Stephen Dubner's FREAKONOMICS will latch on to the good sense put forth here in what the authors call "good choice architecture." Narrator Sean Pratt's delivery is professorial in the best sense of the word. He keeps the tone upbeat and entertaining without overmodulation. Whether discussing how to get kids to make better choices in the cafeteria or how to increase employee enrollment in 401(k)'s, his voice is cheerful and relaxed yet energized with enough enthusiasm to keep the interest level high. Refreshingly easy to follow, this book is full of "ah-ha!" moments, thanks to good research and common-sense advice on how to stop making the same mistakes again and again. D.G. © AudioFile 2009, Portland, Maine

Product Details

BN ID: 2940170288939
Publisher: Ascent Audio
Publication date: 06/11/2008
Edition description: Unabridged

Read an Excerpt

Common "Nudges"

  1. The design of menus gets you to eat (and spend) more. For example, lining up all prices on either side of the menu leads many consumers to simply pick the cheapest item. On the other hand, discretely listing prices at the end of food descriptions lets people read about the appetizing options first…; and then see prices.
  2. "Flies" in urinals improve, well, aim. When Amsterdam's Schiphol Airport was faced with the not uncommon issue of dirty urinals, they chose a unique solution: by painting "flies" in the (center of) commodes, men obligingly aimed at the insects, reducing spillage by 80 percent.
  3. Credit card minimum payments affect repayment schedules. Among those who only partially pay off credit card balances each month, the repayment level is correlated with the card's minimum payment — in other words, the lower the minimum payment, the longer it takes a consumer to pay off the card balance.
  4. Automatic savings programs increase savings rate. All over the country, companies are adopting 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 they get a raise. This plan has more than tripled saving rates in some firms, and is now offered by thousands of employers.
  5. "Defaults" can improve rates of organ donation. In the United States, about one–third of citizens have signed organ donor cards. Compare this to Austria, where 99 percent of people are potential organ donors. One obvious difference? Americans must explicitly consent to become organ donors (by signing forms, for example) while Austrians must opt out if they do not want to be organ donors.

(Continues…)



Excerpted from "Nudge"
by .
Copyright © 2009 Richard H. Thaler.
Excerpted by permission of Penguin Publishing Group.
All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
Excerpts are provided by Dial-A-Book Inc. solely for the personal use of visitors to this web site.

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