Behavioral economics: from advising organizations to nudging individuals

Floris Heukelom and Esther-Mirjam Sent ()

Journal of Behavioral Economics for Policy, 2017, vol. 1, issue 1, 5-10

Abstract: This paper starts from a distinction between "old" and "new" behavioral economics. The former is associated with, amongst others, a Carnegie group around Herbert Simon and a Michigan cluster led by George Katona. The roots of the latter may be traced to the work of especially Amos Tversky and Daniel Kahneman. Concerning the former, the paper illustrates how it emerged out of an interest in organizational policy. Regarding the latter, the paper argues that it serves as a natural input for policy concerning individual decision making. The returning theme is that behavioral economics serves as inherent inspiration for policy proposals.

Keywords: old and new behavioral economics; (bounded) rationality; organizational behavior; nudging (search for similar items in EconPapers)
JEL-codes: B3 D01 D03 L29 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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