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Behavioral Economics, Ep. 4: Should Someone Nudge You Into Making A Decision? - Learn Liberty
Posted
August 22, 2016
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3:45Now PlayingJOIN US IN DC:
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Here’s how you help free people make the best choices.
Free market economists argue that people should be left alone to make decisions for themselves, but sometimes, specialized knowledge is required to make a decision that most people just don’t have. Is there a way to encourage people to make what is, for most of them, the right choice without forcing all of them to make that choice? The answer is what economists call nudging. Professor Antony Davies of Duquesne University and Erika Davies of George Mason University explain. Learn more at
LEARN MORE:
Behavioral Economics (playlist)Heuristics, cognitive biases, public choiceoh my! Watch the entire series to learn more about behavioral economics at
Economics Made Easy (playlist)Want to learn more about how the economy works? Check out our playlist for videos on immigration, the minimum wage, and much more!
Predictably Irrational (book)From drinking coffee to losing weight, from buying a car to choosing a romantic partner, we consistently overpay, underestimate, and procrastinate. Yet these misguided behaviors are neither random nor senseless. They’re systematic and predictablemaking us predictably irrational.
NudgeImproving Decisions About Health, Wealth, and Happiness (book)Richard H. Thaler and Cass R. Sunstein’s seminal work on creating policies designed to alter the behavior of individuals to their benefit while still maintaining an element of choice.
“Libertarian” Paternalism? (podcast)Bill Glod of the Institute for Humane Studies critiques concepts such as “Nudge” and other forms of socalled libertarian paternalism.
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