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Experts in policy land - Insights from behavioral economics on improving experts' advice for policy-makers

Author

Listed:
  • Michelle Baddeley

    (Institute for Choice, University of South Australia)

Abstract

Mistrust of experts is part of the modern zeitgeist - as demonstrated in the run-up to the UK's EU Referendum vote in June 2016 and the US Presidential Election in November 2016. Is it right to question experts' objectivity and impartiality and challenge their roles in the formulation of policy? Traditionally, we tend to believe that experts are offering impartial and unbiased advice, based around an objective assessment of evidence and the careful application of robust research methodologies. In practice, however, a range of behavioural biases and social influences, as well as opportunistic behaviours, have the potential to distort expert judgements. This paper will explore some of the economic, social and psychological influences that might distort the provision of objective advice to policy-makers. It will explore some of the ways in which socially driven bias can distort the evolution of knowledge and explore some policy implications, including ways to ensure that expert advice is devised and applied in the most robust and objective ways possible.

Suggested Citation

  • Michelle Baddeley, 2017. "Experts in policy land - Insights from behavioral economics on improving experts' advice for policy-makers," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 1(1), pages 27-31, February.
    • Handle: RePEc:beh:jbepv1:v:1:y:2017:i:1:p:27-31
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    References listed on IDEAS

    as
    1. Michelle Baddeley, 2013. "Herding, social influence and expert opinion," Journal of Economic Methodology, Taylor & Francis Journals, vol. 20(1), pages 35-44.
    2. Shiller, Robert J, 1995. "Conversation, Information, and Herd Behavior," American Economic Review, American Economic Association, vol. 85(2), pages 181-185, May.
    3. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Diogo Ribeiro & Mara Madaleno & Anabela Botelho, 2022. "Determinants of voter turnout," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 6(S1), pages 73-84, July.
    2. Frans Folkvord & Cristiano Codagnone & Francesco Bogliacino & Giuseppe Veltri & Francisco Lupiañez-Villanueva & Andriy Ivchenko & George Gaskell, 2019. "Experimental evidence on measures to protect consumers of online gambling services," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 3(1), pages 20-29, March.

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    More about this item

    Keywords

    expert judgement; social influence; heuristics; behavioural bias;
    All these keywords.

    JEL classification:

    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • Z18 - Other Special Topics - - Cultural Economics - - - Public Policy

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