Nudge, nudge: Persuasion in financial services
Nudge theory, an idea from behavioural economics, uses prompts to encourage people to make better decisions. As it becomes more common in financial services, Nick Huber investigates whether it works
If you’re sceptical about such claims, you’re far from alone, according to Simon Shaw, market researcher and expert in ‘nudge theory’ – the idea that simple and subtle actions can encourage us to make better decisions. The name and theory were made famous by economists Cass Sunstein and Richard Thaler in their 2008 book, Nudge.
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