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Paradox of Nudge Theory:A Novel out of the Box Solution
Modern age developments needs are leading to growth of new complex problems in terms of markets, societies, nations, trade practices etc. This justifies the need for alternative out of the box solution that does lead to the dynamicity of a new theory known as ‘Nudge Theory’. Although, the term is new, some researches indicate that it can lead to vast improvements in the existing systems of trade, economics and sustainability. This research paper is an effort to understand this theory with instances where it has been successfully used to cater new range of solutions. Data has been collected from secondary sources to identify the grass root problems and effect of nudge theory in general and other specific circumstances. A model has also been developed as an effort to construct new plans with ‘Nudge theory’ approach. This paper can be a source of new learning for students, researchers, academicians, bureaucrats, governments and other economic institutions.
Nudge Theory, Decision Making, Alternatives, Marketing.
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