Behavioral Economics, Ep. 4: Should Someone Nudge You Into Making A Decision?
Here’s how you help free people make the best choices.
Free market economists argue that people should be left alone to make decisions for themselves, but sometimes, specialized knowledge is required to make a decision that most people just don’t have. Is there a way to encourage people to make what is, for most of them, the right choice without forcing all of them to make that choice? The answer is what economists call nudging. Professor Antony Davies of Duquesne University and Erika Davies of George Mason University explain. Learn more at http://hayekandchill.com/economics/.