Social Impact Leadership Series: Nudge or Sludge?
The Role of Behavioral Science in the Public and Private Sectors
“First, never underestimate the power of inertia. Second, realize that power can be harnessed,” writes Chicago Booth professor and Nobel laureate Richard H. Thaler in his best seller Nudge: Improving Decisions About Health, Wealth, and Happiness. On March 18, join Professor Thaler and The Hong Kong Jockey Club Programme on Social Innovation for an exploration of the psychology of decision-making and its applications in the NGO, public policy, and business sectors.
During his talk, Thaler will discuss the very human struggle between making a sensible decision for the future or a decision that has immediate rewards. He will share real-life examples, which illustrate how “nudges” have been employed to promote better outcomes in countries around the world, but he will also discuss how the same techniques can be used for less desirable purposes. Attendees will leave with a greater understanding of human behavior (including their own!) and how our choices ultimately impact our day-to-day lives and the world we live in.
About Richard H. Thaler
Richard H. Thaler, the Charles R. Walgreen Distinguished Service Professor of Behavioral Science
and Economics at Chicago Booth, is the 2017 recipient of the Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics. Thaler studies behavioral economics and finance as well as the psychology of decision-making, which lies in the gap between economics and psychology. He investigates the implications of relaxing the standard economic assumption that everyone in the economy is rational and selfish, instead entertaining the possibility that some of the agents in the economy are sometimes human. Thaler is the coauthor (with Cass R. Sunstein) of the global best seller Nudge (2008), in which the concepts of behavioral economics are used to tackle many of society’s major problems.
Download flyer here.
The Hong kong Jockey Club Charities Trust