Choice architecture autonomy. The choice architecture term was originally coined by Richard Thaler and Cass Sunstein in their 2008 book "Nudge: Improving Decisions about Health, Wealth, and Happiness". Thaler and Sunstein have endorsed thoughtful design of choice architecture as a means to improve consumer decision-making by minimizing biases and errors that arise as the result of bounded rationality. This approach is an example of "libertarian paternalism", a philosophy endorsed by Thaler and Sunstein that aims to "nudge" individuals toward choices that are in their best interest without limiting choice. Libertarian paternalism may also be described as soft paternalism. Behavioral scientists have grouped
Hesse-Kassel thaler Hesse-Kassel thaler The Thaler was the currency of the Landgravate, then Electorate of Hesse-Kassel (or Hesse-Cassel) until 1858. Until 1807, the Thaler was subdivided into 32 "Albus", each of 12 "Heller". It was worth three quarters of a Conventionsthaler. Between 1807 and 1813, the Westphalian Thaler and Westphalian Frank circulated in Hesse-Kassel. The Thaler and Heller were reintroduced in 1813, but without the Albus (the last coins denominated in Albus were issued in 1782). Thus, 384 Heller = 1 Thaler. In 1819, the Thaler was set equal to the Prussian Thaler. In 1841, a new currency system was introduced, dividing