A theoretical framework of decision making explaining the mechanisms of nudging
Åsa Löfgren and
Journal of Economic Behavior & Organization, 2020, vol. 174, issue C, 1-12
We present a theoretical model to clarify the underlying mechanisms that drive individual decision making and responses to behavioral interventions, such as nudges. The model provides a theoretical framework that comprehensively structures the individual decision-making process applicable to a wide range of choice situations. We also identify the mechanisms behind the effectiveness of behavioral interventions—in particular, nudges—based on this structured decision-making process. Hence, the model can be used to predict under which circumstances, and in which choice situations, a nudge is likely to be effective.
Keywords: Nudge; Decision making; Behavioral intervention (search for similar items in EconPapers)
JEL-codes: D11 D91 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:174:y:2020:i:c:p:1-12
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