Behavioral economic engineering

Gary Bolton () and Axel Ockenfels

Journal of Economic Psychology, 2012, vol. 33, issue 3, 665-676

Abstract: Economic engineering is the science of designing real-world institutions and mechanisms that align individual incentives and behavior with the underlying goals. This paper discusses why behavioral economic engineering is a promising research field, how behavioral phenomena may affect economic engineering, and the role of theory and laboratory experiments for behavioral economic engineering in practice. We provide examples, many from our own work.

Keywords: Economic engineering; Behavioral economics; Experimental economics (search for similar items in EconPapers)
JEL-codes: C9 D0 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (23)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:33:y:2012:i:3:p:665-676

DOI: 10.1016/j.joep.2011.09.003

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