ECONOMICS HOMEWORK OF NUDGE THEORY 1

Economics Homework of Nudge Theory

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 ECONOMICS HOMEWORK OF NUDGE THEORY 2

Economics Homework of Nudge Theory

Part 1

I totally agree that Nudge is a characteristic in an environment that has the ability to

create some observable changes in the way somebody conducts him/ herself (Thaler, 2017).

However I also do agree that that specific characteristic of the environment cannot influence

any change in the economic conditions of an individual. That is a statement that can be

applied to simply mean that there are environmental aspects that can cause a difference in

human behavior but cannot cause considerable changes in the economic conditions of the

individual.

The scenarios in which nudge have a great effect on are; health conditions of an

individual. That means that the fitness of an individual could affect a person’s behaviors.

Also, Nudge can cause significant effects on the wealth conditions of an individual. That is an

implication that many environmental factors can affect the nature of the health of an

individual (Thaler, 2017). Similarly, the concept can affect changes in the happiness levels of

an individual. With that, one can easily decide the level of happiness that one can achieve in a

lifetime.

There is a certain area that the Nudge will not be effective, among them being the

relationship perspectives of an individual (Thaler, 2017). That is because when making

personal decisions such as whether to settle with somebody or not to would only imply

personal choices. However, the concept should influence the way of thinking, the way of

making decisions and the way people behave after making the choices. On that same concept,

I do not think that there are any situations that the concept of the Nudge would not be

applicable. That is due to the fact that it influences the way one thinks and makes decisions.

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 ECONOMICS HOMEWORK OF NUDGE THEORY 3

Part 2

Question 1: Nudges in my own life.

The five nudges in my life are avoiding too many avoiding dumping in the

environment and taking part in environmental conservation programs. The other Nudge is

setting personal daily targets that should be achieved and evaluated on a daily basis.

Additionally, being in a position to achieving my educational perspectives up to the master’s

degree level and beyond is the other personal Nudge. Furthermore, having reputable friends

that I can learn from is also a personal goal, and finally, bearing an impact on my community,

my family, and my country is also part of my Nudge.

The above are made nudges since I have to make well-informed decisions in relation

to each. Also, the choices that I make towards each will bear some consequences, such as

changing my behaviour and approach towards situations. Additionally, some people may

have a different perspective concerning the choices that I will make.

Question 2: A situation in my life that could be improved with application of a nudge.

The situation in my life that would be consequently get improved through an

application of a nudge is the peer influence behaviour. That is because, through the concept,

strict measures will be implied to get rid of the number of times that I take part in other

people’s decisions easily, which later has personal consequences most of the time. That can

be accomplished through the application of some self-defining goals and targets that should

be achieved on a daily basis.

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 ECONOMICS HOMEWORK OF NUDGE THEORY 4

Reference
Thaler, R. (Ed.). (2017). Nudge Theory in Action: behavioral design in policy and markets.

Springer.

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