In episode 337, we welcome our guest, Professor Richard Thaler, the co-founder of Fuller & Thaler, Professor at the University of Chicago, and author of multiple best-selling books, including his release this week, Nudge: The Final Edition.
In today’s episode, we’re talking nudges! We talk about all the ways choice architecture and nudges affects financial services – including how we save for retirement, pay our taxes, and choose an insurance plan. We cover some fintech companies using his ideas to help consumers have better outcomes, and then cover some companies that are nudging consumers in the wrong direct.
As we wind down, Professor Thaler shares the concept of sludge and how it applies to things like cancelling subscriptions or registering for the new child income credit payments.
Please enjoy this episode with University of Chicago Professor Richard Thaler.