People and policy : behavioural economics and its policy implications
Dickson, Alex and Fongoni, Marco (2015) People and policy : behavioural economics and its policy implications. Fraser of Allander Economic Commentary, 38 (3). pp. 93-106. ISSN 2046-5378
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Abstract
The standard approach of economic modelling and policy analysis is to assume that people are homo economicus: a rational and self-interested economic man. However, a well-documented body of evidence suggests that human decision makers depart from this assumption in several interesting ways. This paper explores three key behavioural aspects – loss aversion; present-biased preferences; and social preferences. It considers the evidence to support them; how behavioural economists have modified economic models to capture the implications of each modification; and how they offer new insights on the scope and efficacy of a wide range of policy interventions.
ORCID iDs
Dickson, Alex ORCID: https://orcid.org/0000-0001-9386-9036 and Fongoni, Marco ORCID: https://orcid.org/0000-0001-7096-2107;-
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Item type: Article ID code: 52087 Dates: DateEvent4 March 2015PublishedSubjects: Social Sciences > Economic Theory
Social Sciences > CommerceDepartment: Strathclyde Business School > Economics
Strathclyde Business School > Fraser of Allander InstituteDepositing user: Pure Administrator Date deposited: 04 Mar 2015 16:39 Last modified: 06 Oct 2024 00:26 Related URLs: URI: https://strathprints.strath.ac.uk/id/eprint/52087