This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Libertarian paternalism is not an oxymoron

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Cass R. Sunstein
Richard H. Thaler

Additional information is available for the following registered author(s):

Abstract

The idea of libertarian paternalism might seem to be an oxymoron, but it is both possible and legitimate for private and public institutions to affect behavior while also respecting freedom of choice. Often people's preferences are ill-formed, and their choices will inevitably be influenced by default rules, framing effects, and starting points. In these circumstances, a form of paternalism cannot be avoided. Equipped with an understanding of behavioral findings of bounded rationality and bounded self-control, libertarian paternalists should attempt to steer people's choices in welfare-promoting directions without eliminating freedom of choice. It is also possible to show how a libertarian paternalist might select among the possible options and to assess how much choice to offer. Examples are given from many areas, including savings behavior, labor law, and consumer protection.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.bos.frb.org/economic/conf/conf48/index.htm
File Format: text/html
File Function:
Download Restriction: no
File URL: http://www.bos.frb.org/economic/conf/conf48/papers/thaler.pdf
File Format: application/pdf
File Function:
Download Restriction: no

Publisher Info
Article provided by Federal Reserve Bank of Boston in its journal Conference Series ; [Proceedings].

Volume (Year): (2003)
Issue (Month): Jun ()
Pages:
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:fip:fedbcp:y:2003:i:jun:n:48:x:6

Contact details of provider:
Postal: 600 Atlantic Avenue, Boston, Massachusetts 02210
Phone: 617-973-3397
Fax: 617-973-4221
Email:
Web page: http://www.bos.frb.org/
More information through EDIRC

Order Information:
Email:

For technical questions regarding this item, or to correct its listing, contact: (Diane Rosenberger).

Related research
Keywords: Macroeconomics ; Economics ; Economic policy CL HG2567 B6A38;

Other versions of this item:

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)
  1. Alberto Abadie & Sebastien Gay, 2004. "The Impact of Presumed Consent Legislation on Cadaveric Organ Donation: A Cross Country Study," NBER Working Papers 10604, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Hirshleifer, David & Teoh, Siew Hong, 2009. "The Psychological Attraction Approach to Accounting and Disclosure Policy," MPRA Paper 14046, University Library of Munich, Germany. [Downloadable!]
  3. Gérard Charreaux, 2009. "Droit et gouvernance:l’apport du courant comportemental," Working Papers FARGO 1091001, Université de Bourgogne - Latec/Fargo (Research center in Finance,organizational ARchitecture and GOvernance). [Downloadable!]
  4. Robert Sugden, 2008. "Why incoherent preferences do not justify paternalism," Constitutional Political Economy, Springer, vol. 19(3), pages 226-248, September. [Downloadable!] (restricted)
  5. Eldar Shafir, 2003. "Context, conflict, weights, and identities: some psychological aspects of decision making," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, issue Jun. [Downloadable!]
  6. Christine Jolls & Cass R. Sunstein, 2005. "Debiasing through Law," NBER Working Papers 11738, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  7. Sang Bae & Attiat Ott, 2008. "The public economics of self control," Journal of Economics and Finance, Springer, vol. 32(4), pages 356-367, October. [Downloadable!] (restricted)
  8. David H. Krantz & Howard C. Kunreuther, 2007. "Goals and plans in decision making," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 2, pages 137-168, June. [Downloadable!]
  9. David Colander & Andrew Qi Lin Chong, 2009. "The Choice Architecture of Choice Architecture: Toward a Nonpaternalistic Nudge Policy," Middlebury College Working Paper Series 0916, Middlebury College, Department of Economics. [Downloadable!]
  10. Christophe Salvat, 2008. "Is Libertarian Paternalism an Oxymoron?," Working Papers hal-00336528_v1, HAL. [Downloadable!]
  11. Marta Coelho & David de Meza & Diane Reyniers, 2004. "Irrational Exuberance, Entrepreneurial Finance and Public Policy," Asia-Pacific Financial Markets, Springer, vol. 11(4), pages 391-417, August. [Downloadable!] (restricted)
    Other versions:
  12. Ted O'Donoghue & Matthew Rabin, 2005. "Optimal Sin Taxes," Levine's Bibliography 784828000000000346, UCLA Department of Economics. [Downloadable!]
  13. Rossella Incardona & Cristina Poncibò, 2007. "The average consumer, the unfair commercial practices directive, and the cognitive revolution," Journal of Consumer Policy, Springer, vol. 30(1), pages 21-38, March. [Downloadable!] (restricted)
  14. Nathan Berg & Gerd Gigerenzer, 2007. "Psychology Implies Paternalism? Bounded Rationality may Reduce the Rationale to Regulate Risk-Taking," Social Choice and Welfare, Springer, vol. 28(2), pages 337-359, February. [Downloadable!] (restricted)
  15. Katherine Lyford Milkman & Dolly Chugh & Max H. Bazerman, 2008. "How Can Decision Making Be Improved?," Harvard Business School Working Papers 08-102, Harvard Business School, revised Jul 2008. [Downloadable!]
  16. Hirshleifer, David, 2007. "Psychological Bias as a Driver of Financial Regulation," MPRA Paper 5129, University Library of Munich, Germany. [Downloadable!]
    Other versions:
  17. Marques Benton & Stephan Meier & Charles Sprenger, 2007. "Overborrowing and undersaving: lessons and policy implications from research in behavioral economics," Public and Community Affairs Discussion Papers 2007-4, Federal Reserve Bank of Boston. [Downloadable!]
  18. Thomas Leonard, 2008. "Richard H. Thaler, Cass R. Sunstein, Nudge: Improving decisions about health, wealth, and happiness," Constitutional Political Economy, Springer, vol. 19(4), pages 356-360, December. [Downloadable!] (restricted)
  19. Khalil, Elias, 2007. "The Mirror-Neuron Paradox: How Far is Sympathy from Compassion, Indulgence, and Adulation?," MPRA Paper 3509, University Library of Munich, Germany, revised 10 Jul 2007. [Downloadable!]
  20. Dwight M. Jaffee & John M. Quigley, 1975. "Housing Policy, Mortgage Policy, and the Federal Housing Administration," NBER Chapters, in: Measuring and Managing Federal Financial Risk National Bureau of Economic Research, Inc. [Downloadable!]
  21. Gaudeul, Alexia & Sugden, Robert, 2007. "Spurious Complexity and Common Standards in Markets for Consumer Goods," MPRA Paper 19647, University Library of Munich, Germany. [Downloadable!]
    Other versions:
Statistics
Access and download statistics

Did you know? Cannot find something on IDEAS? Encourage the publisher to index it! Instructions.

This page was last updated on 2010-2-8.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.