09 best insights from NUDGE:
A choice architect has the responsibility for organizing the context in which people make decisions.
The combination of loss aversion with mindless choosing implies that if an option is designated as the “default,” it will attract a large market share. Default options thus act as powerful nudges.
First, never underestimate the power of inertia. Second, that power can be harnessed.
A nudge, as we will use the term, is any aspect of the choice architecture that alters people’s behavior in a predictable way without forbidding any options or significantly changing their economic incentives.
People are paying less attention to you than you believe.
The more choices you give people, the more help with decision making you need to provide.
Roughly speaking, losing something makes you twice as miserable as gaining the same thing makes you happy. In more technical language, people are “loss averse.
People’s choices are pervasively influenced by the design elements selected by choice architects.
The false assumption is that almost all people, almost all of the time, make choices that are in their best interest or at the very least are better than the choices that would be made by someone else.
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