Quote by RICHARD AND CASS - Deepstash
RICHARD AND CASS

A nudge… is any aspect of the choice architecture that alters people’s behavior in a predictable way without forbidding any options or significantly changing their economic incentives.

RICHARD AND CASS

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yugjain

Generalist. Great minds discuss ideas, average minds discuss events, small minds discuss people.

Although this book is focused more on policy innovation, I liked the parts which show that any consumer-focused innovation should begin with understanding how consumers choose.

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Making Better Decisions

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The perfect nudge

Nudging involves gently coaxing someone into a decision or behavior. The successful nudge is one that results in the desired choice or behavior without the person realizing any external influence.

2. Economist

2. Economist

  • There are many thinking tools native to economics, but a foundational one is simple. 
  • People respond to incentives.
  • Tyler Cowen, the economist, delivers this best, explaining that a key element of econ...

How Economic Incentives Affect Our Choices

If a person is told about the economic incentives of their selection, they are more likely to make an active choice.

If the person is told about the pros and cons of their decision, they have a logical reason to make the desired choice, as it can minimize any potential los...

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