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Behavioral sciences have challenged the traditional view of a human as a wholly rational actor, the homo economicus in classical economic theory. Embracing these new findings, the field of behavioral economics formed to enrich traditional economic assumptions with evidence and theories from psychological research. These behavioral insights have been incorporated into public policy by governments all over the world. One tool in particular – nudging – has become a prominent, large-scale behavioral intervention. This chapter explores how the different aspects of behavioral economics, nudging and beyond, can come together to inform and enhance public policy.

Type

Chapter

Book title

Psychology and Behavioral Economics Applications for Public Policy

Publisher

Routledge

Publication Date

22/09/2021

Keywords

Business & Economics