Could “Nudges” Steer Us towards a Less-Cash Society?

Leo Hove

Chapter 3 in Transforming Payment Systems in Europe, 2016, pp 70-110 from Palgrave Macmillan

Abstract: Abstract Every now and then academics write a popularising book on economics that effectively becomes wildly popular. Information Rules by Carl Shapiro and Hal Varian comes to mind, and in 2008 there was Nudge — Improving Decisions about Health, Wealth, and Happiness by Richard Thaler and Cass Sunstein, a book described by one website as “the Harry Potter of the policy world this summer”.1 In the book, behavioural economist Thaler and law professor Sunstein, then both at the University of Chicago, argue that seemingly small changes in the choice context — “nudges” — can have massive effects on people’s behaviour. Other books, such as Daniel Kahneman’s (2011) Thinking, Fast and Slow and I’ll Have What She’s Having by Bentley, Earls and O’Brien (2011) have since ridden the wave of interest in behavioural economics.

Keywords: Central Bank; Social Cost; Cash Payment; Card Payment; Debit Card (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-1-137-54121-5_3

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DOI: 10.1057/9781137541215_3

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