Study on behavioural economics for efficient regulation and supervision

Comisión Nacional de los Mercados y la Competencia (CNMC) ()
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Comisión Nacional de los Mercados y la Competencia (CNMC): Comisión Nacional de los Mercados y la Competencia (CNMC)

Colección Estudios de Mercado from Comisión Nacional de los Mercados y la Competencia (CNMC)

Abstract: Behavioural economics has great potential to enhance the effectiveness and efficiency of regulations, public policies, and supervision, thereby benefiting the proper functioning of markets, consumers, and the economy. These instruments are flexible, respect freedom of choice, and are very low-cost. Therefore, many countries use these instruments systematically. To promote their use in Spain, the CNMC recommends creating a regulatory framework on the subject, including behavioural units, networks of experts, human capital, and integration into international forums. Second, adopting behavioural economics in the design and evaluation of regulations and public policies, promoting guidance documents, transparency, experimentation, and a sandbox. Third, introducing a behavioural approach into the work of supervisors, also promoting prevention and awarenessraising measures, and fostering collaboration between institutions.

Keywords: Regulation; Supervision; Competition; Behavioural economics; Cognitive biases; Heuristics; Nudges (search for similar items in EconPapers)
JEL-codes: C9 D9 K23 L4 L51 (search for similar items in EconPapers)
Pages: 125 páginas
Date: 2025-07-08
New Economics Papers: this item is included in nep-com, nep-nud and nep-reg
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https://www.cnmc.es/sites/default/files/6130092.pdf Study. English version (application/pdf)
https://www.cnmc.es/sites/default/files/6130089.pdf Study. Spanish version (application/pdf)
https://www.cnmc.es/sites/default/files/6132591.pdf Press Release (English) (application/pdf)
https://www.cnmc.es/sites/default/files/6132590.pdf Press Release (Spanish) (application/pdf)
https://www.cnmc.es/sites/default/files/6132584.pdf Questions and answers (English) (application/pdf)
https://www.cnmc.es/sites/default/files/6132582.pdf Preguntas y respuestas (Spanish) (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:awo:epaper:e/cnmc/002/23_eng

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