Wednesday, December 29, 2021

g-f(2)770 THE BIG PICTURE OF THE DIGITAL AGE (12/29/2021), Talks at Google, Richard Thaler | Nudge | Talks at Google




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"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital agePersonal Digital Transformation, Making the right decisions (12/29/2021)  g-f(2)426 


OPPORTUNITY, Talks at Google 

Exceptional “Full Pack Golden Knowledge Video”


  • Author and economist Richard Thaler discusses "Nudge: The Final Edition", co-authored by Cass R. Sunstein, which demonstrates how best to nudge us in the right directions, without ever restricting our freedom of choice.
  • Everyday people make decisions: about the things they buy or the meals they eat; about the investments they make and the time they spend; about their health and the health of the planet. Unfortunately, people often choose unwisely. Nudge: The Final Edition shows us that we are all susceptible to biases that can lead us to make bad decisions that make us poorer, less healthy and less happy. And, as Thaler and Sunstein show, it is not possible for choices to be presented to us in a neutral way. Given this fact of life, why not try to help people choose what is best for themselves, for their families and for society?


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Richard Thaler | Nudge | Talks at Google






References




ABOUT THE AUTHORS


Richard Thaler


BIOGRAPHY

Richard H. Thaler is the 2017 recipient of the Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics. Thaler studies behavioral economics and finance as well as the psychology of decision-making which lies in the gap between economics and psychology. He investigates the implications of relaxing the standard economic assumption that everyone in the economy is rational and selfish, instead entertaining the possibility that some of the agents in the economy are sometimes human. Thaler is the former faculty director of the Center for Decision Research (CDR), a Governing Board member of the CDR, and the co-director (with Robert Shiller) of the Behavioral Economics Project at the National Bureau of Economic Research.



Extra-condensed knowledge



Lessons learned, Behavioral scientist


  • Finally, a word about our decision to call this version of the book the Final Edition. One of the earliest topics to be studied by behavioral economists was self‑control problems. Why do people continue to do things they think are dumb (both in foresight and in hindsight)? These include acts such as running up credit card bills, getting more than a bit chubby, and continuing to smoke. One strategy people use to deal with such problems is to adopt commitment strategies, in which some tempting (but ill‑advised) options are made unavailable. For example, some people with a gambling problem volunteer to put their name on a list of people who will not be allowed into a casino. Using this title is our commitment strategy to prevent us from ever tinkering with this book again. We have loved working on it, and we might even have gotten addicted to it, but we pledge, right here and right now, that there will be no “post‑final” edition of Nudge. And one of us actually believes that pledge.

References


Nudge: Preface to the Final EditionRichard H. Thaler and Cass R. Sunstein, August 2, 2021, Behavioral scientist.



Condensed knowledge




Lessons learned, Behavioral scientist



  • The original version of Nudge was published in the spring of 2008. While we were writing it, Thaler got his first iPhone and Sunstein his first BlackBerry. In his first term as a United States senator, our former University of Chicago colleague Barack Obama had decided to challenge Hillary Clinton for the Democratic nomination for president. Senator Joe Biden was also doing that, without a whole lot of success. Real estate developer and reality television star Donald Trump was proclaiming that Clinton was “fantastic” and would “make a great president.” A financial crisis was emerging. Taylor Swift was nineteen years old (and had not yet won a Grammy), and Greta Thunberg was just five.
  • To say the least, a few things have happened in the intervening years. But Nudge continues to attract interest, and we have not been much inclined to tinker with it. Why a revision now? As we discuss in the book, status quo bias is a strong force.
  • Very much in keeping with the book’s spirit, we were induced to emerge from our slumber by a seemingly small matter. The contracts for the American and British paperback editions had expired, and new ones had to be agreed upon. Editors asked whether we might want to add a new chapter or possibly make other changes. Our immediate reaction was to say no. After all, Thaler is famously lazy and Sunstein could have written an entirely new book in the time it would take to get the slow‑fingered Thaler to agree to anything. Besides, we were proud of the book, and why mess with a good thing?


References


Nudge: Preface to the Final EditionRichard H. Thaler and Cass R. Sunstein, August 2, 2021, Behavioral scientist.


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  • Category 2: The Big Picture of the Digital Age
  • [genioux fact deduced or extracted from Talks at Google]
  • This is a “genioux fact fast solution.”
  • Tag Opportunities those travelling at high speed on GKPath
  • Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
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    • Inherited from sources + Supported by the knowledge of one or more experts.


References


“genioux facts”: The online programme on MASTERING “THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)770, Fernando Machuca, December 29, 2021, blog.geniouxfacts.comgeniouxfacts.comGenioux.com Corporation.


ABOUT THE AUTHORS


PhD with awarded honors in computer science in France

Fernando is the director of "genioux facts". He is the entrepreneur, researcher and professor who has a disruptive proposal in The Digital Age to improve the world and reduce poverty + ignorance + violence. A critical piece of the solution puzzle is "genioux facts"The Innovation Value of "genioux facts" is exceptional for individuals, companies and any kind of organization.



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