Skip to main content


Showing posts with the label Economics

What is the Nudge Theory?

Nudge theory is a flexible and modern concept for: Understanding of how people  think , make  decisions , and  behave, Helping people  improve their  thinking  and  decisions, Managing change  of all sorts, and Identifying  and  modifying existing unhelpful influences  on people. People are greatly influenced by consumption norms within a social or family group. A light eater will eat much more than they usually would when they find themselves with a group of heavy eaters. A heavy eater will eat less when they are with a group of  light eaters. The average group behavior therefore can exert a great deal of influence.  Nudge theory was named and popularized by the 2008 book, ' Nudge: Improving Decisions About Health, Wealth, and Happiness ', written by American academics Richard H Thaler and Cass R Sunstein. The book is based strongly on the Nobel prize-winning work of the Israeli-American psychologists Daniel Kahneman and Amos Tversky. Background - Thaler and Sunstein 'Nudg

The World Sustained

We can't escape the idea that, in general, people commonly use false moral standards judge their own behavior. Most people seek success and wealth for themselves and admire them in others, but at the same time,  to be wealthy and honored in an unjust society is a moral disgrace.