Word: thaler
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...existence of this behavioral dream team - which also included best-selling authors Dan Ariely of MIT (Predictably Irrational) and Richard Thaler and Cass Sunstein of the University of Chicago (Nudge) as well as Nobel laureate Daniel Kahneman of Princeton - has never been publicly disclosed, even though its members gave Obama white papers on messaging, fundraising and rumor control as well as voter mobilization. All their proposals - among them the famous online fundraising lotteries that gave small donors a chance to win face time with Obama - came with footnotes to peer-reviewed academic research. "It was amazing to have these bullet...
...friend Sunstein - best known as a constitutional scholar - to run the Office of Information and Regulatory Affairs, the obscure but influential corner of the Office of Management and Budget where federal regulations are reviewed and rewritten. "Cass is one of the people in the Administration he knows best," says Thaler, the founder of behavioral economics and co-author of Nudge. "He knew what he was doing when he gave Cass that job." (See who's who in Obama's White House...
...good options and good incentives are not always enough. Sometimes people still need a helpful cue about their best choice, says Richard Thaler, a behavioral economist at the University of Chicago and author of Nudge: Improving Decisions About Health, Wealth and Happiness. Faced with a vast array of alternatives, many people--paralyzed--pick nothing, according to Thaler's research. "Sending people a bunch of options--that they can join health clubs or Weight Watchers or something--is probably not going to work," he says. What works is making good health effortless--say, by having a nurse come into the office...
Sunstein’s book, “Nudge: Improving Decisions About Health, Wealth, and Happiness,” earned a spot in the “Science and technology” category. Sunstein coauthored his book with University of Chicago economist Richard H. Thaler...
Sunstein explained the central concept of his philosophy of “libertarian paternalism,” which he developed with University of Chicago economics professor Richard H. Thaler...