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
Thaler thousands of dollars, and are highly sought after by serious collectors of thalers. Few circulated in any real sense so they often remain in well-preserved condition. In the Holy Roman Empire, the thaler was used as the standard against which the various states' currencies could be valued. One standard also adopted by Prussia was the Reichsthaler, which contained of a Cologne mark of silver. In 1754, the Conventionsthaler was introduced, containing of a Cologne mark of silver. In 1837, the Prussian thaler became part of a currency union which set the value of the southern German gulden at per thaler.