Using Decision Errors to Help People Help Themselves

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Whether your aim is to lose weight, save for retirement or quit smoking, most of us have a clear idea of the long-term goals that we would like to achieve for ourselves. Unfortunately, most of us also fail to implement the requisite course of action to produce these outcomes. Why don't we simply make the decisions necessary to make our goals a reality? The authors argue that Behavioral Economics can provide solutions to problems that predictably arise from individual behavior. Not only does it acknowledge that human behavior is often far from optimal, but it also identifies a variety of decision errors and biases that contribute to departures from optimality. The authors show that many of the same decision errors that produce self-destructive behavior in the first place can actually be used to people's individual and collective benefit.
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