Conclusion: Behavioral Economics and Policy Interventions

Richard Williams
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Richard Williams: Mercatus Center at George Mason University

A chapter in Nudge Theory in Action, 2016, pp 317-329 from Palgrave Macmillan

Abstract: Abstract The purpose of this book is to demonstrate that there is a strong private sector that helps people’s decision making and that stringent criteria ought to be met before governments attempt to improve on private decision making, whether through structuring information to “nudge” people into making the government-preferred decision or using more stringent measures to achieve the same thing. Where people have difficulty matching their inherent preferences into real life decisions that satisfy those preferences, a private market will almost always arise that can help to match decisions with preferences.

Keywords: Unintended Consequence; Market Failure; Behavioral Economic; Neoclassical Economic; Executive Order (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:paichp:978-3-319-31319-1_12

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DOI: 10.1007/978-3-319-31319-1_12

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