NEW TO ISHK
NUDGE
Improving Decisions About Health, Wealth, and Happiness
Richard H. Thaler & Cass R. Sunstein
Yale University Press, 2008
LEARNING OBJECTIVES:
• Learn the basics of behavioral economics
• Learn what influences our choices and how institutions, such as schools, can become more user-friendly by enlisting the science of choice
• Learn how “nudges” can make a difference in choices for investments, diet, charitable giving, education systems, and the environment
• Explore some examples of “nudges” being used successfully
• Learn what “choice architecture” is and how it can affect the average person’s daily life
• Learn the rules that apply to decision-making including those that can be used to determine what would happen if one chooses to do nothing
• Examine the authors’ ideas that what is best for people is choice and how freedom of choice can help to prevent “overreaching” by those who are in a position to shape our decisions
• Learn how to help people make better choices and retain or expand this freedom
• Learn the three factors involved in the “auto-pilot mode” when people make decisions
• Learn what we can do to position ourselves better for making sound judgments in an increasingly fast-paced and complex world
• Learn how the brain has evolved for specific purposes which do not include some modern choices, such as choosing good credit plans or reducing harmful pollution
• Explore the authors’ ideas on what needs to be done for structuring social policies to allow more individual choices
Richard H. Thaler is the Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science and Economics and the Director of the Center for Decision Research at the University of Chicago’s Graduate School of Business.
Cass R. Sunstein is Karl N. Llewellyn Distinguished Service Professor of Jurisprudence, University of Chicago Law School and Department of Political Science. Starting in the Fall of 2008 he will join the faculty of Harvard Law School and director of the Program on Risk Regulation.
10 CE credits; 304 pages
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