Nudge: The Final Edition
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Average rating3.7
Thaler and Sunstein develop libertarian paternalism as a middle path between command-and-control and strict-neutrality choice architectures. Libertarian paternalism protects humans against their damaging psychological traits (inertia, bounded rationality, undue influence) by exploiting those habits to nudge people into making better choices.
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I don't need a new book to read, but this just looked so interesting. During the introduction, the authors bring in the concept of Libertarian Paternalism, which they are going to define and recommend during the course of the book. I'm skeptical, yet interested.
I was torn on whether to give this 3 or 4 stars. I had already read Thaler's other books so much of this was not new. That said I would recommend it to someone who had not yet read his work, particularly if you are a decision architect.
definitely one of the less obnoxious pop behavioral economics/psychology books now in vogue. perhaps the best insight in the book is the notion that we are least prepared and worst equipped to understand the consequences of some of the most rare, complicated, and important economic decisions we make in our lives, whereas we are very well equipped to make mundane economic choices.
however, none of the policy proposals outlined are actually that groundbreaking or innovative. people act irrationally, people procrastinate, participation in organ donor programs increases markedly under opt-out schemes – insights like this are not earth-shattering.
lastly, it's kind of a boring read after a few chapters, and it is filled with cloying asides about Sunstein and Thaler's lunch dates, their email exchanges, tennis games, etc etc. also seemed to have a strange predilection for examples involving food, calories, and weight loss.
