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Behavioral Economics

I really enjoyed the video and the readings. However, it does raise the question about why there seems to be so little interest in raising the bar for everyone. Current businesses, governments, even non-profits are more concerned about their personal gains than about civil society and the common good. Is this just a phase? Most societies go through something like this, usually with a bad end for everyone.

Is it possible to intervene through Behavioral Economics and alter the course to lessen the impact of this looming train-wreck?

Week 1

  • Richard Thaler video - Nudge
  • polarization in society
  • v: distribution of wealth - education - link / polarization - getting
  • worse ?? how to get back to social
  • econs - participate in classical economics - unboundedly unscrupulous, always looking for strategic advantage
  • humans - behavioral economics - nice people
  • libertarian paternalism - right to choose, choice preserving / care
  • about outcome
  • choice architecture
  • nudge - attracts attention and affects good decision making
  • feedback - ambient orb enery usage
  • civil / society
  • maine - medicare d - collect information about drugs, suggest drug plan
  • markets - mortgages - hit and run - one transaction only
  •  ?? anything the government does is political - corrupt and inept
  • career - not what you like studying, what tasks you think you might like to do