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Should Governments Invest More in Nudging?

Authors :
Benartzi, Shlomo
Beshears, John
Milkman, Katherine L.
Sunstein, Cass R.
Thaler, Richard H.
Shankar, Maya
Tucker-Ray, Will
Congdon, William J.
Galing, Steven
Source :
Psychological Science (0956-7976). Aug2017, Vol. 28 Issue 8, p1041-1055. 15p.
Publication Year :
2017

Abstract

Governments are increasingly adopting behavioral science techniques for changing individual behavior in pursuit of policy objectives. The types of "nudge" interventions that governments are now adopting alter people's decisions without coercion or significant changes to economic incentives. We calculated ratios of impact to cost for nudge interventions and for traditional policy tools, such as tax incentives and other financial inducements, and we found that nudge interventions often compare favorably with traditional interventions. We conclude that nudging is a valuable approach that should be used more often in conjunction with traditional policies, but more calculations are needed to determine the relative effectiveness of nudging. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
09567976
Volume :
28
Issue :
8
Database :
Academic Search Index
Journal :
Psychological Science (0956-7976)
Publication Type :
Academic Journal
Accession number :
124559357
Full Text :
https://doi.org/10.1177/0956797617702501