Nudge

In this weekend’s FT I read about Richard Thaler who wrote a book called “Nudge: Improving Decisions about Health, Wealth and Happiness“. Of course I ordered it straight away.

Since I did not know who Richard Thaler was, I had a look. He is the Ralph and Dorothy Keller Distinguished Service Professor of Behavioural Science and Economics at the University of Chicago Booth School of Business. Wow, what a title. He was advisor to Obama in his presidential campaign.
His book “Nudge” discusses how organizations can help to make better choices. The term “choice architect” was defined as someone who displays choice in a way for other people to chose, e.g. he uses the example of someone who writes out a school menu and depending on whether the healthy or unhealthy option is first, that “architect” influences the decision for lunch.

Below is a video I found of his presentation given at the RSA, the Royal Society for the encouragement of Arts, Manufactures and Commerce, in London. Enjoy and please let me know what you think. I cannot wait to read his book!