Behavioral economics and the ‘new’ paternalism1

Rostislav Kapeliushnikov ()

Russian Journal of Economics, 2015, vol. 1, issue 1, 81-107

Abstract: The paper provides a critical appraisal of the normative program of behavioral economics known as ‘new paternalism’. First, it explores the theoretical foundations of behavioral economics, describes major behavioral anomalies associated with bounded rationality of economic agents and discusses its normative principles and political implications. It then discusses the main empirical and conceptual drawbacks of new paternalism and provides arguments for the alternative non-welfarist normative tradition based on the idea of freedom.

Keywords: behavioral economics; welfare economics; new paternalism; normative analysis. (search for similar items in EconPapers)
JEL-codes: A13 D03 D60 D63 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:eee:rujoec:v:1:y:2015:i:1:p:81-107

DOI: 10.1016/j.ruje.2015.05.004

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