On the ‘cashing out’ hypothesis and ‘soft’ and ‘hard’ policies
AbstractIn the literature on paternalism that has grown out of the behavioural economics ‘revolution’, a distinction is drawn between ‘hard’ and ‘soft’ policies. Although this hard/soft distinction seems to be motivated by the thought that the two policy types might have different implications for individual liberty, there is a claim that ‘hard’ policies are normatively superior to ‘soft’ for ‘efficiency’ reasons. We show, by appeal to an esteem-based model of ‘soft’ policy that this claim is not valid in general. We also expose a number of conceptual mistakes in what many seem to have identified as the normative implications of behavioural economics.
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Bibliographic InfoArticle provided by Elsevier in its journal European Journal of Political Economy.
Volume (Year): 27 (2011)
Issue (Month): 4 ()
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Web page: http://www.elsevier.com/locate/inca/505544
‘Hard’ and ‘soft’ paternalism; Social esteem; Israeli kindergarten puzzle; Emotional tax;
Find related papers by JEL classification:
- D03 - Microeconomics - - General - - - Behavioral Economics; Underlying Principles
- D6 - Microeconomics - - Welfare Economics
- H2 - Public Economics - - Taxation, Subsidies, and Revenue
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