Opportunities and Problems of The Practical Realization of The "Nudge" Approach in The Behavioral Economics

Aygun Erturk-Mincheva and Plamen Tchipev
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Aygun Erturk-Mincheva: Plovdiv University "P. Hilendarski", Bulgaria

Scientific Conference of the Department of General Economic Theory, 2022, issue 1, 38-46

Abstract: Behavioral economists make it possible to improve individuals' decisions by proposing alternative measures to regulators based on psychological traits in the individual. The realization of this, the so-called "nudge" provides good opportunities for cheaper and more efficient results compared to the results of standard fiscal, price, etc. methods of economic regulation. Nudge, however, has restrictive conditions. It is often necessary to collect specific data, and in some cases it is necessary to specify the local socio-cultural picture– Institutional support is also needed. The lack of clear restrictions on preventing the possibility of conversion to manipulation raises concerns. The report submitted identifies and analyses the possibilities and challenges of implementing these measures.

Keywords: Behavioral Economics; Green Policies; Herbert Simon; Nudge; Richard Thaler (search for similar items in EconPapers)
JEL-codes: D23 D91 E71 F12 G41 H39 (search for similar items in EconPapers)
Date: 2022
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