Sunday 16 August 2009

'Nudge' by Richard Thaler and Cass Sunstein

Hi there,

   For the first time I actually did read the book I was awarded. Quite remarkable I have to say, as I am generally used to receiving either heavy readings about Polish history (boring) or not-in-depth encyclopedias for children aged 6-10. This time around Bellerbys funded for their Student Ambassador a book that he is extremely pleased to be given.



   ‘Nudge’ written by Richard Thaler and Cass Sunstein is a 250-page lecture focusing around a subject of behavioral economics. Everyone seems to think that economics is only about maths, models and equations. Well, that is very much true, but after all, it is ought to be social science. Social, that is, um, correct me if I am wrong – for society, isn’t it? The authors are trying to convince us that little, almost unnoticeable actions can lead to more than significant changes. They refer to those minor actions as ‘nudges’. How many times have you found yourself denying your own opinion and opting to follow the herd? Ready to order chicken, but everyone seems to order cod, well, don’t want to be odd one out, do you? And how many times have you found yourself in a state of complete inertia? Too lazy to bother yourself about choosing on your own, let’s just pick a default option. Default rarely does mean the best. No worries though, as a human you are destined to make poor choices, at times. It’s only up to you how often that will occur. Thaler in cooperation with Sunstein explain how you can change your life with very little fuss and effort. Change for the better, obviously. Sounds like a good deal to me. Hope this little piece of review worked as a nudge for you. If not, then well, at least I did try, right …?

Rating: 7.0/10

Cheers,
John A62

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