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A Review of Nudges: Definitions, Justifications, Effectiveness

Summary:
Luca Congiu  and Ivan Moscati of University of Insubria (Italy) in this research piece: In an influential book published in 2008, Thaler and Sunstein suggested a novel approach to policy making based on the notion of a ‘nudge.’ Roughly speaking, a nudge is defined as an aspect of the decisional context that steers people’s decisions by acting on their cognitive biases. The book generated an intense debate, over the course of which concerns were raised about: (1) the exact definition of nudges, (2) their ethical justifiability, and (3) their effectiveness. In this paper, we review the nudge literature by focusing on these three concerns. This entry was posted on January 7, 2021 at 12:57 pm and is filed under Academic research &

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Luca Congiu  and Ivan Moscati of University of Insubria (Italy) in this research piece:

In an influential book published in 2008, Thaler and Sunstein suggested a novel approach to policy making based on the notion of a ‘nudge.’ Roughly speaking, a nudge is defined as an aspect of the decisional context that steers people’s decisions by acting on their cognitive biases. The book generated an intense debate, over the course of which concerns were raised about: (1) the exact definition of nudges, (2) their ethical justifiability, and (3) their effectiveness. In this paper, we review the nudge literature by focusing on these three concerns.

Amol Agrawal
I am currently pursuing my PhD in economics. I have work-ex of nearly 10 years with most of those years spent figuring economic research in Mumbai’s financial sector.

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