Thursday, July 2, 2009

Choice architecture: the framing of how decisions are presented to consumers

An article from the Wall St. Journal about government policy mentioned this neat approach to business:

... "choice architecture" -- the context, format and framing of how decisions are presented to consumers. You will eat more nuts from a big bowl than from a small bowl. You will choose surgery if you are told it offers a 90% chance of survival; you will reject it if you are told there is a 10% chance it will kill you. The same people who would skip investing in a 401(k) if they had to "opt in" to the plan will participate if they have to "opt out" in order to skip it.

I wonder how this may be applied to help us succeed at anything we do.

Read full article here:

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