In this brilliant book, Thaler and Sunstein teach us how to steer people toward better health, sounder investments, and cleaner environments without depriving them of their inalienable right to make a mess of things if they want to. The inventor of behavioral economics and one of the nation”s best legal minds have produced the manifesto for a political revolution.
An economic anomaly occurs when there is a difference between how standard economic theory predicts people should behave and how people actually behave. Thaler examines a number of these situations that occur in the real world and experimentally. Although everyone will recognize these situations, unfortunately much of his discussion will not be accessible to non-economists.