Warren Lammert is a longtime Boston financial executive who directs Granite Point Capital. Possessing over three decades of experience in the financial industry, Warren Lammert is particularly interested in behavioral economics.
One unique concept developed by 2017 Nobel Prize winner Richard Thaler, a University of Chicago economics and behavioral science professor, is nudge theory. This holds that people's behavior can be effectively changed through suggestions that encourage and motivate, rather than overtly relying on manipulation, rules, and law. People at the receiving end of the “nudge” have a choice of whether to follow the desired behavior or decline it.
Many persuasion tools are nudges, such as setting healthy foods in a prominent location in a school cafeteria. Another example is a company enrolling employees in retirement plans that they can opt out of. Nudges may be as simple as reminding people to get seasonal flu shots or to recycle household items on certain days.
Whether it involves encouraging healthy behaviors at the national level or informing people on how to maximize portfolio savings, nudge behaviors are often effective because they don’t infringe on a person’s perceived freedoms or rights.
One unique concept developed by 2017 Nobel Prize winner Richard Thaler, a University of Chicago economics and behavioral science professor, is nudge theory. This holds that people's behavior can be effectively changed through suggestions that encourage and motivate, rather than overtly relying on manipulation, rules, and law. People at the receiving end of the “nudge” have a choice of whether to follow the desired behavior or decline it.
Many persuasion tools are nudges, such as setting healthy foods in a prominent location in a school cafeteria. Another example is a company enrolling employees in retirement plans that they can opt out of. Nudges may be as simple as reminding people to get seasonal flu shots or to recycle household items on certain days.
Whether it involves encouraging healthy behaviors at the national level or informing people on how to maximize portfolio savings, nudge behaviors are often effective because they don’t infringe on a person’s perceived freedoms or rights.
