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
Richard Thaler writes papers that are full of common sense." Since 1991, Thaler is also the co-director of the National Bureau of Economic Research Behavioral Economics Project. Thaler was also involved in the establishment of the Behavioural Insights Team, originally part of the British Government's Cabinet Office but is now a limited company. Thaler made a cameo appearance as himself in the 2015 movie "The Big Short", which was about the credit and housing bubble collapse that led to the 2008 global financial crisis. During one of the film's expository scenes he helped pop star Selena Gomez explain the 'hot hand fallacy,'