Exam 2 Lecture 5 Flashcards
1
Q
to nudge
A
- to touch or push gently
- to push gently with your elbow to get someone’s attention
- to encourage someone to do something
2
Q
more formal definition (mkt def)
A
any aspect of the choice architecture that alters people’s behavior in a predictable way without forbidding any options or significantly changing their economic consequences
3
Q
to count as a mere nudge…
A
the intervention must be easy and cheap to avoid
4
Q
nudges are not
A
mandates…you should be banning something
5
Q
economics
A
econs- mythical creatures that live on the pages of economics textbooks
-don’t care about emotions, compute utility of objects, don’t care about context, etc
6
Q
the compromise effect
A
why everyone chooses size medium coffee
7
Q
the power of defaults
A
organ donation example (opt in vs. opt out)
