Thediscussion questionis:In a New York Times article by economist Richard Thaler, “The Power of...

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Thediscussion questionis:In a New York Times article by economist Richard Thaler, “The Power of Nudges, for Good and Bad,” nudging is described as strategies that encourage consumers to buy products...

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Thediscussion questionis:
In a New York Times article by economist Richard Thaler, “The Power of Nudges, for Good and Bad,” nudging is described as strategies that encourage consumers to buy products that they might otherwise not consider and "The Rise of the Nudge" by Tamsin Rudder describes nudges in the service of government.
a.)Provide examples of a "nudge" being encouraged, one by a corporation and one by government (two altogether) which have led toimprovedutility or welfare of those being nudged.How can this nudge be used to lead to better outcomes for society?b.)Explain how the nudging you cited as an example also met the other two principles of Thaler's guide for the use of a nudge.
Terms or concepts include the following:framing bias, sunk cost fallacy, altruism, overvaluing the present relative to the future, overconfidence,diminishing marginal utility, utility, price (or cost) greater than utility received, cost and burden resulting from the nudge, nudges good for society, well-being of those being nudged, ease of opting out, the ease of opting out made possible by ___ , encouraged behavior will improve welfare by _____, phishing, transparency and never misleading, happiness and satisfactionas explained in the textbook, readings, and other course materials.
Please be sure to use bold type or underline, or both, the minimum of four terms in the text of your initial discussion post as you use them. Failure to follow instructions on word count reporting (minimum required), not highlighting the four terms or concepts using underlining or bold (whichever works better when writing and uploading your text), and generally not following grading rubric instructions will result in significant grade point reduction. The word count must be written in parentheses after the discussion post and replies or the discussion post will either receive 0 points, a substantial grade point penalty, or not be graded at all.
To enhance your chances of achieving an exemplary grade for each discussion, please note the location where each of the four concepts or terms you use in your discussion can be found in the reading or video by citing - inside parenthesis - the specific named source and page of the text or video time. For example: economic efficiency (Chiang, p. 34), or, economic efficiency (Video 4 on Human organs, 20:55). Be sure to bold the terms in the text of your initial discussion post as you use them. Put the source and location for each of your highlighted terms or concepts from the list of key terms or concepts for exemplary grade point consideration. The word count must be written in parentheses after the discussion post and replies or the discussion post will either receive 0 points, a substantial grade point penalty, or not be graded at all.

Answered 2 days After Oct 22, 2022

Komalavalli · Accepted Answer

The foundation of Nudge theory is that by modifying the environment, often known as the architecture of choice, one may impact the chance that people would pick a different alternative.
Cass Sunstein, a Harvard professor, characterizes nudges as a liberal defensive strategy that steers individuals in certain ways. These political techniques have grown so popular among politicians and groups that they have an impact on our lives now, tomorrow, and, in some cases, the afterlife.  Today, I feel compelled to follow a low-calorie diet, save money every month, and give my organs when I die. The attractiveness of utilizing motivation to modify people's behavior in the direction desired by society is clear to understand. They are often inexpensive to execute, have substantial public support and can result in significant behavioral change they can, however, have unforeseen consequences, just like any other policy tool.
Policymakers may be curious in who benefits and who suffers as a result of a specific urge. For example, regressive policies (those that disproportionately affect low-income individuals) are frequently unpopular among politicians and public.
Nudge theory is a valuable and successful weapon in the fight against advanced social engineering and Phishing approaches that affect employees' regular brain functioning. Security, information technology,

Thediscussion questionis:In a New York Times article by economist Richard Thaler, “The Power of Nudges, for Good and Bad,” nudging is described as strategies that encourage consumers to buy products...

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