Embracing new technology and the ‘nudge’

In the modern capitalist world, behaviors and decisions are shaped through external influences created by the architecture of the environment in which we interact. The "psychology of the person" often forms the basis of the views of Richard Thaler, 2017 recipient of the Nobel Memorial Prize in Economic Sciences and professor of behavioral science and economics at the University of Chicago, according to whom human behavior and the decisions we make are often biased against economic rationality or even against our personal interests.

Known as the father of modern behavioral economics, Thaler explains in his works "Misbehaving" and "Nudge" that the psychology of the person has a direct impact on market behavior, and through small "nudges" we can improve our decisions.

Kathimerini interviewed Thaler, former president of the American Economic Association, and asked him...