Archivio per 7 novembre 2014

07
Nov
14

The Choice Architecture of Choice Architecture: Toward a Nonpaternalistic Nudge Policy

See on Scoop.itBounded Rationality and Beyond
Abstract

This The goal of nudge policy is generally presented as assisting people in finding their “true” preferences. Supporters argue that nudge policies meet a libertarian paternalism criterion. This claim has provoked complaints that nudge policies are unacceptably paternalistic. This paper suggests that by changing the explicit goal of nudge policy to a goal of making the choice of choice mechanism an explicit decision variable of the subgroup being affected by the nudge one can have a non-paternalistic nudge policy that better fits with the values inherent in Classical liberalism. The goal of non-paternalistic nudge policy is not to achieve a better result as seen by government or by behavioral economists. The goal of non-paternalistic nudge policy is to achieve a better result as seen by the agents being nudged as revealed through their choices of choice mechanisms. Examples are given of how nonpaternalistic nudge policy will and will not differ from paternalistic nudge policy.

See on sandcat.middlebury.edu

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07
Nov
14

The Choice Architecture of Choice Architecture: Toward a Nonpaternalistic Nudge Policy

http://docs.google.com/viewer?url=http%3A%2F%2Fsandcat.middlebury.edu%2Fecon%2Frepec%2Fmdl%2Fancoec%2F0916.pdf&embedded=trueAbstract

This The goal of nudge policy is generally presented as assisting people in finding their “true” preferences. Supporters argue that nudge policies meet a libertarian paternalism criterion. This claim has provoked complaints that nudge policies are unacceptably paternalistic. This paper suggests that by changing the explicit goal of nudge policy to a goal of making the choice of choice mechanism an explicit decision variable of the subgroup being affected by the nudge one can have a non-paternalistic nudge policy that better fits with the values inherent in Classical liberalism. The goal of non-paternalistic nudge policy is not to achieve a better result as seen by government or by behavioral economists. The goal of non-paternalistic nudge policy is to achieve a better result as seen by the agents being nudged as revealed through their choices of choice mechanisms. Examples are given of how nonpaternalistic nudge policy will and will not differ from paternalistic nudge policy.

Source: sandcat.middlebury.edu

See on Scoop.itBounded Rationality and Beyond

07
Nov
14

Your Success Toolkit: “Nudge” by Thaler and Sunstein: 3 rules of thumb we use to make decisions

This is the second time I have read the book, so I thought it was about time that I shared it with you. “Nudge” is not just a book, it is a challenge- a challenge to the way we think about choice and demonstrates how we can use “choice architecture” to help people when making decisions, especially the complex ones we struggle with (such as saving for retirement) but also the normal choices we face everyday. Sometimes the choices that offer a trade off between short term pleasure and long term gain are the hardest! Eat the pack of biscuits and polish off the bottle of wine now or be happy that you didn’t in 20 years time when your arteries are less furred than your friends?! Throughout the book Thaler and Sustein offer everyday and real life examples, demonstrating that no choice is ever presented in a ‘neutral’ way. In fact we can unknowingly be nudged in to making one decision over another without us even realising! Choice architecture, when executed correctly, can make major improvements to the lives of others by designing user-friendly environments. Why? Becauwe there are two kids of thinking (I have recently learnt more about this through my Coursera neuro-economics course I completed), the automatic and the reflective.

Source: yoursuccesstoolkit.blogspot.it

See on Scoop.itBounded Rationality and Beyond

07
Nov
14

Your Success Toolkit: “Nudge” by Thaler and Sunstein: 3 rules of thumb we use to make decisions

See on Scoop.itBounded Rationality and Beyond

This is the second time I have read the book, so I thought it was about time that I shared it with you. “Nudge" is not just a book, it is a challenge- a challenge to the way we think about choice and demonstrates how we can use “choice architecture” to help people when making decisions, especially the complex ones we struggle with (such as saving for retirement) but also the normal choices we face everyday. Sometimes the choices that offer a trade off between short term pleasure and long term gain are the hardest! Eat the pack of biscuits and polish off the bottle of wine now or be happy that you didn’t in 20 years time when your arteries are less furred than your friends?! Throughout the book Thaler and Sustein offer everyday and real life examples, demonstrating that no choice is ever presented in a ‘neutral’ way. In fact we can unknowingly be nudged in to making one decision over another without us even realising! Choice architecture, when executed correctly, can make major improvements to the lives of others by designing user-friendly environments. Why? Becauwe there are two kids of thinking (I have recently learnt more about this through my Coursera neuro-economics course I completed), the automatic and the reflective.
See on yoursuccesstoolkit.blogspot.it

07
Nov
14

Nudging e Salute: un binomio possibile?

See on Scoop.itBounded Rationality and Beyond

Downloadable! Il termine inglese nudging viene tradotto in italiano con la locuzione “spinta gentile”. Esso indica un’azione svolta dallo Stato diretta ad incentivare (o disincentivare) comportamenti individuali ritenuti benefici (o nocivi) per il soggetto stesso che li compie. L’ipotesi teorica che sta alla base di tale pratica è che le scelte che il consumatore può compiere non rispondano sempre ai postulati di razionalità propri della teoria neoclassica del consumatore. Si ipotizza l’esistenza di due tipi di consumatore l’Homo Economicus, definito anche “Econ”, che è in grado di compiere scelte che rispettano i postulati propri della teoria neoclassica del consumatore e l’Homo Sapiens, o “Human”, che compie errori sistematici nell’effettuare le proprie scelte. In questo paper, dopo aver esposto i tratti principali del nudging, si analizzano in modo critico gli aspetti teorici e leimplicazioni di policy di tale teoria.

See on ideas.repec.org

07
Nov
14

Nudging e Salute: un binomio possibile?

Downloadable! Il termine inglese nudging viene tradotto in italiano con la locuzione “spinta gentile”. Esso indica un’azione svolta dallo Stato diretta ad incentivare (o disincentivare) comportamenti individuali ritenuti benefici (o nocivi) per il soggetto stesso che li compie. L’ipotesi teorica che sta alla base di tale pratica è che le scelte che il consumatore può compiere non rispondano sempre ai postulati di razionalità propri della teoria neoclassica del consumatore. Si ipotizza l’esistenza di due tipi di consumatore l’Homo Economicus, definito anche “Econ”, che è in grado di compiere scelte che rispettano i postulati propri della teoria neoclassica del consumatore e l’Homo Sapiens, o “Human”, che compie errori sistematici nell’effettuare le proprie scelte. In questo paper, dopo aver esposto i tratti principali del nudging, si analizzano in modo critico gli aspetti teorici e leimplicazioni di policy di tale teoria.

Source: ideas.repec.org

See on Scoop.itBounded Rationality and Beyond

07
Nov
14

The impact of an exchange rate realignment on the trade balance: Euro vs. national currency – Some preliminary results with a/simmetrie model of the Italian economy

See on Scoop.itBounded Rationality and Beyond

Downloadable! It is frequently claimed that the current EUR/USD exchange rate is too high and that a depreciation of the EUR against the USD would contribute to relieve the Eurozone economy from the current state of persistent crisis. Evidence provided by the a/simmetrie annual econometric model suggests that this claim is unsupported by the data, at least as far as the Italian economy is concerned. In fact, the size and sign of the trade elasticities show that the increases in net exports towards non-Eurozone countries, brought about by the depreciation of the euro, would be offset by an increase in net imports towards Eurozone countries, brought about by the increase in Italian domestic demand. To put it simply, in case of a depreciation of the EUR, the Italian economy would not only suffer a higher costs of energy (because of the depreciation vis-à-vis OPEC countries), but also spend in Germany much of the money it earned in the US, Japan, and the emerging countries, with a net effect likely to be almost zero or negative in the first three to four years.

See on ideas.repec.org




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