After two Nobel prize wins for behavioral economists, the burgeoning field has demonstrated its importance in shaping effective economic and government policy.
Government initiatives to prod people to make better decisions got a lot of attention after Richard Thaler won a Nobel in economics for his working on nudging.
As a founder of behavioral economics, Thaler has helped change the way economists look at the world.
AP Photo/Paul Beaty
Earlier this week an impressive cast of academics, policy experts and business leaders gathered in Sydney at the inaugural Behavioural Exchange meeting to talk about “nudges”. Made famous by Richard Thaler…