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Are Regulators Rational?

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  • Tasic Slavisa

    (University of Turin)

Abstract

Thus far, psychological input has been used in economics mainly to highlight the cognitive imperfections of market participants. The normative implication of behavioral economics in its current state is that imperfections of market participants should be rectified by psychologically informed regulators. However, regulators are themselves imperfect actors with limited cognitive capacities. I propose some biases and illusions documented by cognitive psychologists that may be relevant to the political economy of government regulation.

Suggested Citation

  • Tasic Slavisa, 2011. "Are Regulators Rational?," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 17(1), pages 1-21, April.
    • Handle: RePEc:bpj:jeehcn:v:17:y:2011:i:1:n:3
    DOI: 10.2202/1145-6396.1248
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    Cited by:

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    2. Shastitko, Anastasia (Шаститко, Анастасия), 2018. "Application of the Conclusions of the Behavioral Economy to the Behavior of Civil Servants: Methodological Aspects [Применение Выводов Поведенческой Экономики К Поведению Государственных Служащих: ," Working Papers 031823, Russian Presidential Academy of National Economy and Public Administration.
    3. Schnellenbach, Jan & Schubert, Christian, 2015. "Behavioral political economy: A survey," European Journal of Political Economy, Elsevier, vol. 40(PB), pages 395-417.
    4. Schnellenbach, Jan & Schubert, Christian, 2014. "Behavioral public choice: A survey," Freiburg Discussion Papers on Constitutional Economics 14/03, Walter Eucken Institut e.V..
    5. Victor I. Espinosa & William Hongsong Wang & Jesús Huerta de Soto, 2022. "Principles of Nudging and Boosting: Steering or Empowering Decision-Making for Behavioral Development Economics," Sustainability, MDPI, vol. 14(4), pages 1-18, February.
    6. Pavlova, Natalia (Павлова, Наталья) & Shastitko, Anastasia (Шаститко, Анастасия), 2017. "Behavioral Aspects of the Regulator's Actions [Поведенческие Аспекты Действий Регулятора]," Working Papers 051714, Russian Presidential Academy of National Economy and Public Administration.
    7. Ishani Mukherjee, 2021. "Rethinking the procedural in policy instrument ‘Compounds’: a renewable energy policy perspective [Introducing vertical policy coordination to comparative policy analysis: The missing link between ," Policy and Society, Darryl S. Jarvis and M. Ramesh, vol. 40(3), pages 312-332.
    8. Roberta Muramatsu & Fabio Barbieri, 2017. "Behavioral economics and austrian economics: Lessons for policy and the prospects of nudges," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 1(1), pages 73-78, February.
    9. Michael David Thomas, 2019. "Reapplying behavioral symmetry: public choice and choice architecture," Public Choice, Springer, vol. 180(1), pages 11-25, July.

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