Libertarian paternalism way that will make choosers better off, as judged by themselves" (p. 5); note and consider, the concept paternalism specifically requires a restriction of choice. It is libertarian in the sense that it aims to ensure that "people should be free to opt out of specified arrangements if they choose to do so" (p. 1161). The possibility to opt-out is said to "preserve freedom of choice" (p. 1182). Thaler and Sunstein published "Nudge", a book-length defense of this political doctrine, in 2008 (new edition 2009). Libertarian paternalism is similar to asymmetric paternalism, which refers to policies designed to help people
Richard Thaler Thaler was offered a position at the University of Chicago's Booth School of Business in 1995, where he has taught ever since. Thaler has written a number of books intended for a lay reader on the subject of behavioral economics, including "Quasi-rational Economics" and "The Winner's Curse", the latter of which contains many of his "Anomalies" columns revised and adapted for a popular audience. One of his recurring themes is that market-based approaches are incomplete: he is quoted as saying, "conventional economics assumes that people are highly-rational—super-rational—and unemotional. They can calculate like a computer and have no self-control problems." Thaler