Cass Sunstein, a Harvard Law School professor and co-author of the influential book 'Nudge', shares his insights on career transitions. He emphasizes the importance of focusing on what you love, even when shifting within the legal profession. Sunstein recounts his journey from clerking at the Supreme Court to teaching at the University of Chicago, exploring the marriage of intellectual challenge with practical relevance. He also reflects on behavioral economics, examining how subtle nudges can shape decision-making without compromising individual freedom.
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question_answer ANECDOTE
Early Career Pivot to Teaching
Cass Sunstein shifted from practicing law to teaching early in his career after being impressed by University of Chicago Law School's intellectual energy.
He saw teaching as continuous with law practice but more theoretical and engaging.
question_answer ANECDOTE
Criticism Led to New Collaboration
Cass faced criticism from orthodox economists for his behavioral economics paper urging him to stop writing it.
This led him to discover Richard Thaler and become excited about behavioral economics instead.
question_answer ANECDOTE
Forming a Key Collaboration
Cass wrote a fan letter to Dick Thaler who initially didn't respond but later invited him to lunch.
They became great friends and collaborators soon after connecting at University of Chicago.
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In 'Winning the Loser's Game,' Charles D. Ellis explains that investing has become a 'loser's game' where the outcome is determined by the mistakes of the loser, rather than the skills of the winner. Ellis advocates for a focus on developing and adhering to wise and appropriate investment policies, emphasizing the importance of understanding client needs, avoiding high fees, and investing for the long term. The book includes updated chapters on bond investing, investor behavior, and the impact of technology on investment decisions, while reinforcing core principles of successful investing such as indexing and reducing costs.
Nudge
Improving Decisions About Health, Wealth, and Happiness
Richard H. Thaler
Cass R. Sunstein
In 'Nudge,' Thaler and Sunstein argue that by understanding how people think, we can design 'choice architectures' that nudge people toward better decisions for themselves, their families, and society. The book introduces the concept of 'libertarian paternalism,' where gentle nudges guide people toward beneficial choices without limiting their freedom. It explores various aspects of human decision-making, including the distinction between the 'Automatic System' and the 'Reflective System' of thinking, and provides numerous examples of how nudges can be applied in real-life scenarios to improve outcomes in health, finance, and other areas[1][3][5].
How do you change careers when you are a highly accomplished, successful attorney? The answer is focus within your profession on what you love doing!
Cass Sunstein, professor at Harvard Law School co-author of the new book, “Algorithmic Harm: Protecting People in the Age of Artificial Intelligence” Previously he co-authored “Nudge” with Nobel Laureate Dick Thaler. We discuss his shift in career within the legal profession. .
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