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Behavioral and Experimental Economics Do Inform Public Policy

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  • Arno Riedl

Abstract

Experimental and behavioral economics are well-established branches of economic science. This essay presents and discusses some results and behavioral regularities from these fields, which are of potential and actual importance for public policy. After a brief introduction to what experimental and behavioral economics are, some important behavioral regularities - presentation and framing effects, prosocial behavior, and reciprocity - are introduced, and it is reported how they interact with prominent trading institutions, taxation, and social and individual well-being. Throughout, some implications for public policy are discussed.

Suggested Citation

  • Arno Riedl, 2010. "Behavioral and Experimental Economics Do Inform Public Policy," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 66(1), pages 65-95, March.
  • Handle: RePEc:mhr:finarc:urn:sici:0015-2218(201003)66:1_65:baeedi_2.0.tx_2-x
    DOI: 10.1628/001522108X503389
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    References listed on IDEAS

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    1. Bagnoli, Mark & McKee, Michael, 1991. "Voluntary Contribution Games: Efficient Private Provision of Public Goods," Economic Inquiry, Western Economic Association International, vol. 29(2), pages 351-366, April.
    2. Gerber, Anke & Wichardt, Philipp C., 2009. "Providing public goods in the absence of strong institutions," Journal of Public Economics, Elsevier, vol. 93(3-4), pages 429-439, April.
    3. Rachel Croson & Melanie Marks, 2000. "Step Returns in Threshold Public Goods: A Meta- and Experimental Analysis," Experimental Economics, Springer;Economic Science Association, vol. 2(3), pages 239-259, March.
    4. Mark Bagnoli & Barton L. Lipman, 1989. "Provision of Public Goods: Fully Implementing the Core through Private Contributions," Review of Economic Studies, Oxford University Press, vol. 56(4), pages 583-601.
    5. Cadsby, Charles Bram & Maynes, Elizabeth, 1999. "Voluntary provision of threshold public goods with continuous contributions: experimental evidence," Journal of Public Economics, Elsevier, vol. 71(1), pages 53-73, January.
    6. R. Isaac & David Schmidtz & James Walker, 1989. "The assurance problem in a laboratory market," Public Choice, Springer, vol. 62(3), pages 217-236, September.
    7. Coats, Jennifer C. & Gronberg, Timothy J. & Grosskopf, Brit, 2009. "Simultaneous versus sequential public good provision and the role of refunds -- An experimental study," Journal of Public Economics, Elsevier, vol. 93(1-2), pages 326-335, February.
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    Citations

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    Cited by:

    1. Doerrenberg, Philipp & Duncan, Denvil, 2014. "Tax Incidence in the Presence of Tax Evasion," IZA Discussion Papers 8137, Institute for the Study of Labor (IZA).

    More about this item

    Keywords

    public economics; experimental economics; behavioral economics; public policy;

    JEL classification:

    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D00 - Microeconomics - - General - - - General
    • H00 - Public Economics - - General - - - General

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