In this lovely, useful book, Richard Thaler and Cass Sunstein examine choices, biases and the limits of human reasoning from a variety of perspectives. They often amuse by disclosing how they have fallen victim to the limitations of thought that they are describing. The fact that these educated, articulate professionals can fool themselves so often demonstrates how tough it is to think clearly, a point the authors emphasize and even repeat. Humans fall prey to systematic errors of judgment, but you can harness this problematic tendency productively several ways, including helping others make better decisions. Some of the authors’ suggestions may not be practical, but many are – and all are interesting. getAbstract recommends this book to anyone who wants to know how to shape responsible decisions.
In this summary, you will learn
- What factors influence the choices people make;
- How to help people make better choices; and
- How to think about “choice architecture.”
About the Authors
Richard H. Thaler teaches at the University of Chicago Graduate School of Business and is author of Quasi Rational Economics. Cass R. Sunstein teaches at the University of Chicago Law School and is the author of Infotopia.
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Comment on this summary
1 year agoRecomendations regarding saving choices are simmilar than those presented by Dan Ariely. Worth reading.
2 years agoI do not know anyone how I think pretty well
3 years agoThis was a great book of the concept of Nudge psychology. I read the full book and thoroughly enjoyed it. Many practical strategies to implement.
6 years agoAn interesting introduction to the concept of nudge psychology. The abstract is scant on the number of practical ideas to takeaway. It would sound as though the book has more of a socialogical slant, and so the business reader may be better advised to look out for Predictably Irrational by Dan Ariely (also available on getAbstract).