Nudging is based on a certain group of psychologists and behavioral economists who want to point out that everyone else is somehow stupid. I've written a paper called the Bias Bias in behavioral economics that is the tendency to find biases even if they're done. And it would be well done to realize that people aren't so stupid, yes. But most people, they're not smart enough to become risk literate. It's unrealistic. We have to help them.
Psychologist and author Gerd Gigerenzer of the Max Planck Institute for Human Development talks about his book Gut Feelings with EconTalk host Russ Roberts. Gigerenzer argues for the power of simple heuristics--rules of thumb--over more complex models when making real-world decisions. He argues that many results in behavioral economics that appear irrational can be understood as sensible ways of coping with complexity.