Nudge: A Bridge Between Choice and Desired Decision

Vikas Pujara, Bhavesh Prakash Joshi and Charu Virmani
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Vikas Pujara: Manav Rachna International Institute of Research and Studies, India
Bhavesh Prakash Joshi: Manav Rachna International Institute of Research and Studies, India
Charu Virmani: Manav Rachna International Institute of Research and Studies, India

International Journal of Applied Behavioral Economics (IJABE), 2022, vol. 11, issue 1, 1-15

Abstract: The "Real" decision often varies from the "Rational" decision. The Real or the actual behaviour of people is quite often biased and differs from the rational decision framework which has been put in place by classical economics. The irrational or undesired behaviour displayed by the people even in an informed public policy is a classic example of this. The purpose of this paper is to try and explain the classical nudge theory which ‘nudge’ the people towards a desirable behaviour. We need to contemplate if we could use it as a method to awaken the motivate us Indians to invest or if it could help us to devise policy or the marketing campaigns in such an effective manner that it could help us bridge the gap of non-investment behaviour. Researcher has considered the 6 Nudge principles to prepare a questionnaire which has been duly filled online by 135 respondents. It has been shown that there is an impact of Nidge as a decision making tool for policy formation.

Date: 2022
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