The Power of Nudging in Nonprofits: A Behavioral Economics Perspective
“Nudging” – a concept in behavioral economics – has been grabbing attention. The term, popularized by Richard Thaler and Cass Sunstein in their book ‘Nudge: Improving Decisions about Health, Wealth, and Happiness’, describes the subtle arrangement of choices or cues to help individuals make decisions aligned with their best interests. This concept, when applied to nonprofits, can potentially reshape donor behavior and heighten engagement. Let’s further explore ‘nudging’ and its practical implications for your nonprofit.