Thaler and Sunstein (2003) coined the term "libertarian paternalism." Which of the following definitions best captures the essence of that term?

"influencing people to choose what is in their best interest."

Explanation:

Thaler and Sunstein (2003) coined the term "libertarian paternalism.", the best definition to capture the essence of this term would be "influencing people to choose what is in their best interest." This is due to the fact that the principle idea behind this is that it is both possible and legitimate for private and public institutions to influence individual's behavior but at the same time maintain and not interfere with those same individual's freedom of choice