Journal of Economic Literature
Book Reviews
2026-09-01
Justine S. Hastings of Yale University and NBER reviews “Nudge: Improving Decisions about Health, Wealth, and Happiness” by Richard H. Thaler, Cass R. Sunstein,. The EconLit Abstract of the reviewed work begins “Examines how we can apply the new science of choice architecture to nudge people toward favorable life decisions. Discusses biases and blunders; resisting temptation; following the herd; when we need a nudge; choice architecture; saving more tomorrow; naive investing; credit markets; privatizing social security--smorgasbord style; prescription drugs; how to increase organ donations; saving the planet; improving school choices; whether patients should be forced to buy lottery tickets; privatizing marriage; a dozen nudges; objections; and the real third way. Thaler is Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science and Economics, and Director of the Center for Decision Research in the Graduate School of Business at the University of Chicago. Sunstein is Karl N. Llewellyn Distinguished Service Professor of Jurisprudence in the School of Law and is in the Department of Political Science at the University of Chicago. Bibliography; index.”