Intelligence Squared Business Weekly: Nudge Theory and How to Change Behaviours with Richard Thaler
Nov 15, 2021
Richard Thaler, the Nobel Prize-winning economist and co-author of 'Nudge,' joins journalist Kamal Ahmed to dive into the transformative world of nudge theory. They discuss how subtle changes in choice architecture can significantly influence decision-making in areas like public health and climate change. The conversation delves into the power of nudges in boosting vaccination rates, the impact of social media algorithms on behavior, and how these concepts can enhance parenting and policymaking for better outcomes.
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Choice Architecture
- Nudge theory emphasizes the importance of choice architecture.
- Choice architecture recognizes that the environment influences decisions.
Nudge as a Tool
- Nudge theory tweaks can improve decisions but rarely solve entire problems alone.
- It's a valuable tool within a larger solution set.
Climate Change and Nudges
- Addressing climate change requires international cooperation and getting the prices right.
- Nudges, like showing energy usage comparisons, can contribute but aren't sufficient on their own.
