Nudge Behavioural economics integrate psychology and sociology into economics. It is based on empirical research rather than casual observation about human behaviour. People frequently make poor decisions in situations that involve: complicated calculations risk and uncertainty tradeoffs between present and future We use two distinct systems in decision making: the Automatic system: used for quick,… Continue reading Innovation and ‘Nudge’ Economics – New Policy Frontiers
Tag: Bias
Nudge
Thaler, Richard H. and Cass R Sunstein (2009) Nudge: Improving decisions about health, wealth, and happiness. Penguin Books, 320 p. Choice Architect: Has the responsibility for organizing the context in which people make decisions. There is no neutral design Libertarian Paternalism Libertarian: makes policies that maintain or increase freedom of choice, liberty-preserving. Paternalistic: influencing choices… Continue reading Nudge
Wrong
Freedman, David H. (2010). Wrong: Why experts keep failing us – and how to know when not to trust them. Little, Brown and Company, New York, 295p. Traps Bias and Corruption Irrational Thinking Pandering to the audience Ineptitude Lack of oversight Automaticity The trouble with scientists Mismeasuring Studying the wrong mammal Tossing out inconvenient data… Continue reading Wrong
Actionable feedback: Unlocking the power of learning and performance improvement
CANNON, Mark D. & WITHERSPOON, Robert, «Actionable feedback : Unlocking the power of learning and performance improvement», Academy of Management Executive, 2005, vol.19, no 2, p. 120-134. Critical Feedback Not only is it unsavory to give, but its delivery frequently fails to lead to a desirable change in the recipient’s behavior. Recipients can sometimes harbor… Continue reading Actionable feedback: Unlocking the power of learning and performance improvement