Why Nudges Can’t Do What They Promise

Mark D. White

Chapter Chapter 4 in The Manipulation of Choice, 2013, pp 61-80 from Palgrave Macmillan

Abstract: Abstract Countless times every day, people around the world make choices in their own interests, including their wants and needs, goals and dreams, and principles and ideals, all of which are incredibly complex and multifaceted. But behavioral economists question many choices made by ordinary people because they seem to contradict the simplistic interests they assume people have, such as wealth or health. For instance, people buy lottery tickets, even though the chance of winning is astronomically small. But no one buys lottery tickets because he or she thinks it is a prudent financial decision—they buy them because it’s exciting to watch the balls drop and imagine the joy of winning. Likewise, people don’t eat unhealthy foods just because they don’t know better or have self-control issues, but they may have other reasons to eat them—reasons that may be suspect according to a health economist but not to the people making that choice. To them, it may have been a great choice, fully in their interests, regardless of what anyone else thinks of it.

Keywords: Cognitive Bias; Automatic Enrollment; Retirement Saving; Sunday Morning; Libertarian Paternalism (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-31357-7_4

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DOI: 10.1057/9781137313577_4

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