Richard Thaler | Nudge
Talks at Google
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Navigating Behavioral Economics: Nudge and Sludge
This chapter explores the impact of wage increases and strategic financial incentives on employee morale and retention, introducing the concepts of 'nudge' and 'sludge' within workplace contexts. It critiques the inefficiencies of systems like the U.S. tax structure while highlighting successful behavioral science applications in policymaking, such as retirement plan enrollments. The discussion emphasizes the importance of minimizing friction in decision-making processes and the relevance of improved choice architecture in today’s technological landscape.
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