The Architecture of Choice - Part 2: The Siren Song and the ATM: How Competition Curates Our Cognitive Biases
The Architecture of Choice ← Series Home The Efficiency of the Nudge: Profit and Self-Interest Most policy discussions surrounding nudges focus on how the government can leverage behavioral science to steer us toward positive outcomes, but this often overlooks a fundamental truth: markets have always been the original architects of choice. Long before academics codified cognitive failures, private firms—including retailers, advertisers, and marketers—relied on intuitive behavioral insights to sell their products and maximize profit. The modern application of behavioral nudges in consumer products, especially technology, is now an explosive growth area, offering specialized products and services to help individuals manage their financial life and health. ...