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(Behavioural economics) Is Nudging Still Relevant in the Post Crisis World?

Richard Thaler, Professor of Behavioural Science and Economics at the University of Chicago, USA and co-author of Nudge: Improving Decisions about Health, Wealth and Happiness (which sets out a framework for applying behavioural economics to a wide range of public policy questions - an approach which Thaler and his colleague Cass Sunstein call 'libertarian paternalism'), discussed how in the worst financial crisis since the great depression, behavioural economics can help our understanding of how we got into this mess, how we can get out of it, and how we can prevent another crisis from occurring.