Nudging Society to Better Decisions #GreshamLecture We often think that psychological biases worsen decision making - but they can also be harnessed for good. This talk will discuss how “nudging” can help citizens make better decisions. For example, due to “status quo bias” (inertia), auto-enrolling employees into a pension makes them more likely to save. Due to “loss aversion”, punishments for smoking can be more effective than rewards for not smoking. Due to “hyperbolic discounting” (impatienc