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Richard Thaler: Encore presentation of Nobel Prize Conversations

Nobel Prize Conversations

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The Evil Necessity of Nudges

Adam Smith: Are you aware of anybody using your work in what you would consider to be very much the wrong direction or are people obviously best? Nudge: Well, certainly the tools that we use have been used for thousands of years. And companies use some of the same methods in ways that I don't approve of. In fact, I've coined a term for evil nudges, which is sludge. You know, the theme of nudges make it easy to do the right thing and sludge is the gunky stuff that mucks things up.

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