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1. A bat and ball cost $1.10 in total. The bat costs $1.00 more than the ball. How much does the ball cost? _____ cents 2. If it takes 5 machines 5 minutes to make 5 widgets, how long would it take 100 machines to make 100 widgets? _____ minutes 3. In a lake, there is a patch of lily pads. Every day, the patch doubles in size. If it takes 48 days for the patch to cover the entire lake, how long would it take for the patch to cover half of the lake? _____ days
The combination of loss aversion with mindless choosing implies that if an option is designated as the “default,” it will attract a large market share. Default options thus act as powerful nudges.
lo que ocurre en la politica Chilena, lo valida?
(Note to political parties: If you would like to increase turnout, please do not lament the large numbers of people who fail to vote.) *
drinks each
It turns out that if you ask people, the day before the election, whether they intend to vote, you can increase the probability of their voting by as much as 25 percent!
A study of a nationally representative sample of more than forty thousand people asked a simple question: Do you intend to buy a new car in the next six months? 23 The very question increased purchase rates by 35 percent.
The three social influences that we have emphasized—information, peer pressure, and priming—can easily be enlisted by private and public nudgers.
Suppose the thermostat in your home was programmed to tell you the cost per hour of lowering the temperature a few degrees during the heat wave. This would probably have more effect on your behavior than quietly raising the price of electricity, a change that will be experienced only at the end of the month when the bill comes.
iNcentives Understand mappings Defaults Give feedback Expect error Structure complex choices Voilà: NUDGES
Enrollment Decisions: Nudging People to Join
An alternative is to adopt automatic enrollment. Here’s how it works. When an employee first becomes eligible, she receives a form indicating that she will be enrolled in the plan (at a specified savings rate and asset allocation), unless she actively fills out a form asking to opt out.
