People have a strong tendency to maintain the current state of affairs. For example, many drivers stick with their current car insurers as they are already familiar with the service despite other providers offering better products and/or prices.
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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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Similar ideas to Status quo bias
Apart from a few herbs, exercise, and nutritional changes, most sleep-related products are not backed by scientific research. Many people who cannot sleep become dysfunctional as their body triggers alarms, and start to panic. They become gullible to buy anything that the market ...
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