How rational do you think you are?
Thaler and Sunstein were pioneers who developed the choice architecture framework. According to them, humans are prone to hundreds of proven biases causing us to both think and act irrationally.
For our prehistoric ancestors, these biases saved time and cognitive effort. In our modern-day, business world, however, cognitive bias can impose significant drawbacks. Choice architecture is a framework that acts to prevent the negative repercussions of cognitive bias.
In this article, before we do anything, we will time-hop backward to discover the history of choice architecture. From knowing this history, we at Process Street will reveal what choice architecture is. We will then consider the elements (common human biases) that the choice architecture framework acknowledges.
Finally, we examine the challenges choice architecture faces and ways those challenges can be resolved through the use of checklists as an alternative method. We will show you how you can use Process Street for free, along with choice architecture, to remove the negative repercussions human bias presents. Just read through the sections below:
- Choice architecture: A brief history
- What is choice architecture?
- The elements of choice architecture
- Choice architecture in action
- What do biases mean for your business?
- Using processes to remove human irrationality
Let’s get started.