Saturday 25 September 2010

Nudge: 50 cents plastic bag levy


I was at the grocery store this morning when it suddenly dawned on me that nudges exist everywhere.

I recently read the book Nudge by Richard Thaler and Cass Sunstein about choice architect and small things in choice systems that may help people make better decision.

A section of the book mentioned about how people hate to lose twice as much as they like to win i.e. people would rather NOT lose $100 than to win $50.

Thus when I was at the grocery store and when I saw how many people are now using environmental bags than plastic bags because of the 50 cents plastic bag levy in Hong Kong, the power of nudge came to mind.

People would rather "go through the trouble to" bring their own bag than to lose 50 cents (an insignificant amount).

This little nudge in the system has drastically reduced the amount of plastic bags distributed by shops by 90%!!!!

You can use nudges in organ donations, saving plans, business plans and many other places to help people make better decisions.

Read this book, I highly recommend it.

If 50 cents can make such a big change in plastic bags usage, imagine what else all other little nudges can do to make our world a better place!

Monday 6 September 2010

Goodbye Aunt Janny



I was shocked when I heard the passing of Aunt Janny.

Aunt Janny was the my cousin's aunt from his dad's side. I saw her once or twice a year, I had never known her well but it was always pleasant to see her.

She had been battling with cancer for two years before she passed. The pain of losing my father and sister to cancer over 15 years ago suddenly came back.

Like it was yesterday.

Life is too short. Way too short.

Why do nice people die young?

Aunt Janny, all the best and I hope you are in a much better place.

Your are going to be missed.

Goodbye Aunt Janny.

Sunday 5 September 2010

Fighting Heroes



I had the privilege to attend the iFS White Collar Boxing Event in Hong Kong last night.

Boxing is definitely not my cup of tea but the thought of being able to glam up, eat good food with great friends and watch a few fights for a charitable cause, why not?

The event was certainly similar to those you see on TV, the ring, the judges, the fighters, the crazy lights, the crowd and the shouting.

But little did I know I was there to meet heroes - ordinary men who do extraordinary things.

These fighter by the day are lawyers, investment bankers, doctors, accountants etc. But they all have a common interest - boxing. To me, it's a sport that lets someone kick the shit out of you.

One very obvious difference between professional fighters (like Tyson) and the brave men I saw last night was that these men were doing it for the love of their interest and for charity.

It was such an honorable and brave thing to do! Walking into the ring with equally competent fighter, while your family and boss watch.

I applaud those who fought for charity last night. I don't understand boxing as I naively think that it's just wrong to cheer when someone gets beaten up. But this was different, it was for charity - the CSC - Children's Surgical Centre - which enables kids in Cambodia to receive life changing surgeries they otherwise would not have received.

Well done boys, you guys are my heroes, and the fighting heroes for many kids in less fortunate worlds.

God bless.