Power of defaults
Research shows that people are more likely to stick to the default choice. For example, in countries where the default is for people to not be organ donors only 15% of people opt in. When the default is for people to be organ donors only 10% of people opt out.
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The book introduces “nudge theory”, a system for influencing decision making without restricting options.In order to nudge people towards making certain decisions, the authors advocate for “choice architecture”. Choice Architecture is the practice of influencing choices by organising the context in which they are made. The irony is that behavioral economics, having attacked Homo Economicus as an empirically false description of human choice, now proposes, in the name of paternalism, to enshrine the very same fellow as the image of what people should want to be. Read It with a grain of salt
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