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Nudging Better Consumer Decisions: Provide Useful Information

See on Scoop.itBounded Rationality and Beyond

In recent years, the new field of behavioral economics has used psychology to identify strategies (or “nudges”) that can help people make better decisions for themselves and for society. This talk will review research on a few simple strategies for providing clear information to consumers and employees. We argue that the best way to help decision makers is not to simply give them information (picture the long credit card disclosure statements you periodically receive), but to make it usable. Our main focus has been on energy use. Every time consumers buy a new automobile in the U.S., they see a window sticker on every vehicle describing the car’s fuel economy, expressed as miles per gallon (MPG). What information would you put on an energy label to help consumers make better decisions about energy use (and the environment)?

See on behavioralpolicy.org



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agosto: 2016
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