Behavioral Economics and Public Policy 102: Beyond Nudging
Saurabh Bhargava () and
George Loewenstein ()
American Economic Review, 2015, vol. 105, issue 5, 396-401
Policymakers have recently embraced Behavioral Economics as an alternative approach which recognizes the limits and consequences of human decision-making. Early applications of BE ("nudges") produced notable successes and helped to set the stage for more aggressive applications aimed at the deeper causes of policy problems. We contend that policies that aspire to simplify products and incentives, rather than choice environments, aggressively protect consumers from behavioral exploitation, and leverage BE to enhance the design and implementation of traditional policy instruments offer solutions commensurate with contemporary challenges. Case studies in health insurance, privacy, and climate change illustrate the application of these ideas.
JEL-codes: D03 D78 E03 E61 I13 Q54 (search for similar items in EconPapers)
Note: DOI: 10.1257/aer.p20151049
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