Launch of "Nudge - Final Edition" by the author of Nobel 2017

After more than a decade of its release, "Nudge" - the famous book by 2017 Nobel Prize winner Richard H. Thaler and 2018 Holberg Prize winner Cass R. Sunstein, has just been republished with many nearly new updates and revisions.

As soon as it was released in 2008, the book “Nudge” by the author duo Richard H. Thaler and Cass R. Sunstein immediately became one of the best-selling books worldwide with more than 2 million copies sold.

Almost completely new version

Based on research in psychology and behavioral economics , the author has demonstrated that people are often influenced by subtle nudges in their decision-making process. This theory quickly became popular and was accepted by many economists, policy makers, etc.

“Nudge” not only affects politicians in the UK and the US but also spreads to many other countries, helping to create more than 400 “nudge teams” in governments: UK, Germany, Japan… Along with that, the concept of “nudge” is also quickly popularized and used as a new vocabulary among business people, policy makers, consumers… all over the world.

After more than a decade of publication, Thaler and Sunstein realized that with the development of the times, some information in the book has become outdated and needs to be updated and revised accordingly. For example, the iPod - a product that was considered trendy in the first chapter after so many years has become outdated and obsolete. Or, many current issues that the author mentioned in the old version have been solved by some countries.

"Nudge" - a famous book by 2017 Nobel Prize winner Richard H. Thaler and 2018 Holberg Prize winner Cass R. Sunstein.

Therefore, with more than a decade of experience working in and outside the government , along with new research findings, the author duo has updated and revised the book from beginning to end. “Nudge - Final Edition” began editing in 2020, right at the time when the COVID-19 pandemic broke out globally.

It can be said that this is a nearly new version of “Nudge” with 6 added chapters, 4 chapters almost completely rewritten, and 6 chapters updated and edited in depth. Although largely rewritten, “Nudge - Final Edition” still chooses the familiar opening by telling the story of Carolyn’s cafeteria chain. From here, the concepts of “choice architecture” and “libertarian paternalism” begin to be discussed extensively.

In the added section, the author specifically devotes two large chapters to two new topics: smart disclosure and sedimentation, along with the addition of two new concepts of choice architecture: pleasure and curation. Accordingly, smart disclosure helps consumers make more effective decisions. And sedimentation is the resistance of choice architecture that affects the overall decision. These topics are built to make it easier to create nudges.

With this 480-page version, Thaler and Sunstein are not afraid to rewrite the content they have painstakingly researched, but also update the issues of the times, from retirement savings programs, to personal finance for health insurance, climate change, the COVID-19 pandemic... With clear arguments and illustrative examples, the authors have clarified the effects and impacts of nudges on different issues, and at the same time, proposed useful solutions for using nudges to solve many problems in life.

The Magic Word of “Nudge”

Richard H. Thaler and Cass R. Sunstein argue that the most fundamental principle of nudge implementation is summed up in the “mantra”: Make the right thing easy to do. Nudges are not taxes or penalties, they do not restrict individuals’ freedom of choice, but rather a promising approach to improving decision-making and promoting positive behavioral change.

In recent years, “Nudge” has been considered one of the most engaging and thought-provoking books by critics, businessmen, economists, etc. However, the book has also created certain controversies in the fields of ethics and political science. When updating the book, the author duo did not shy away from but dared to look frankly at these opposing views. In addition, the authors also did not hesitate to expose the limitations of nudges for readers to discuss at the end of the book.

“Nudge” is considered by critics, businessmen, economists… to be one of the most engaging and thought-provoking books.

Although still controversial, the impact of nudges at the present time is undeniable. With a focus on changing human behavior without relying on coercion, prohibition or law, nudge theory has been applied in many different fields, including health, education, finance… to help individuals and businesses make better decisions, improving their well-being.

After more than a decade since the first edition was released, “The Push - Final Edition” has undergone significant changes to provide readers with a better experience and more useful knowledge. However, the new edition still retains the best of the old edition. Therefore, both new and old readers will find many new and interesting contents in “The Push - Final Edition”.

Referring to this book, Professor of Psychology Daniel Kahneman, winner of the 2002 Nobel Prize in Economics and author of the book “Thinking, Fast and Slow”, praised: “There are very few books that can change the world, but 'Nudge' has done that. This 'Nudge - Final Edition' contains great things: funny, useful and wise.”

The Boston Globe commented: "The book is not only funny but also contains good ideas that financial directors, policymakers, Wall Street experts and all savers can apply."

Richard H. Thaler is a Professor of Economics at the University of Chicago (USA). He is considered the “father” of Behavioral Economics - a science that includes psychology, consumer behavior and economics. In 2017, he was awarded the Nobel Prize in Economics for his contributions to the field of behavioral economics. Currently, Richard H. Thaler is a member of the National Academy of Sciences, the American Academy of Arts and Sciences. In addition, he is also the author of the book “Misbehaving: The Making of Behavioral Economics”, and has many articles in many famous journals.

Cass R. Sunstein is a distinguished professor of law at the Robert Walmsley College of Harvard Law School, where he is the founding director of the Behavioral Economics and Public Policy Program. From 2009 to 2012, he served in the Obama administration as the Administrator of the White House Office of Information and Regulatory Affairs (OIRA), a division of the Office of Management and Budget (OMB). From 2020 to 2021, he served as Chair of the Technical Advisory Group on Health and Behavioral Insights of the World Health Organization (WHO). In 2021, he joined the Biden administration as a Senior Advisor and Regulatory Policy Officer in the Department of Homeland Security.

Cass R. Sunstein's published works include: "Impeachment: A Citizen's Guide", "Too Much Information" and "Noise: A Flaw in Human Judgment" co-written with Daniel Kahneman and Olivier Sibony. In 2018, he received the Holberg Prize - an award given annually to scholars who have made outstanding contributions to the fields of research in the arts, humanities, social sciences, law, etc.

Source: https://baohungyen.vn/ra-mat-cu-hich-phien-ban-cuoi-cung-cua-tac-gia-nobel-2017-3167229.html