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Nudging as a new "soft" policy tool: An assessment of the definitional scope of nudges, practical implementation possibilities and their effectiveness

Gabriela Michalek, Georg Meran, Reimund Schwarze and Özgür Yildiz

No 2016-18, Economics Discussion Papers from Kiel Institute for the World Economy (IfW)

Abstract: The idea of nudging has become increasingly popular in both academic and political circles. There are, however, many different interpretations of the term 'nudge' which blurs its scope. In this paper, the authors focus on the conceptualization of nudges and its functionality in reference to the Dual Process models. Further, they discuss the potential applications of nudging as an important extension of the current policy toolkit. In particular, the authors assess the potential of nudges to support habit formation and enhance the performance of the 'classical' economic instruments when used in the so-called instrument mix.

Keywords: nudging; behaviourally informed regulation; governance (search for similar items in EconPapers)
JEL-codes: A12 D03 D80 K20 Q58 (search for similar items in EconPapers)
Date: 2016
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