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The tacit dimension and behavioural public policy: insights from Hayek and Polanyi

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  • Festré, Agnès
  • Østbye, Stein

Abstract

In this paper, we revisit the Knowledge Problem addressed by Hayek eight decades ago and emphasised more recently by Rizzo and Whitman in their critique of the new paternalist approach of mainstream behavioural economics promoted by Sunstein and Thaler. We do this in light of the work of Michael Polanyi. Polanyi developed a theory of knowledge which has some commonalities with Hayek’s but also departs from it by emphasising the tacit, personal and perceptual dimensions of any process of knowing, thus radically renouncing any attempt of a knowledge typology separating different types of tacit knowledge (TK) and even denying that general knowledge could exist independently of TK.

Suggested Citation

  • Festré, Agnès & Østbye, Stein, 2025. "The tacit dimension and behavioural public policy: insights from Hayek and Polanyi," Behavioural Public Policy, Cambridge University Press, vol. 9(3), pages 575-592, July.
    • Handle: RePEc:cup:bpubpo:v:9:y:2025:i:3:p:575-592_7
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