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Could “Nudges” Steer Us towards a Less-Cash Society?

In: Transforming Payment Systems in Europe

Author

Listed:
  • Leo Hove

Abstract

Every now and then academics write a popularising book on economics that effectively becomes wildly popular. Information Rules by Carl Shapiro and Hal Varian comes to mind, and in 2008 there was Nudge — Improving Decisions about Health, Wealth, and Happiness by Richard Thaler and Cass Sunstein, a book described by one website as “the Harry Potter of the policy world this summer”.1 In the book, behavioural economist Thaler and law professor Sunstein, then both at the University of Chicago, argue that seemingly small changes in the choice context — “nudges” — can have massive effects on people’s behaviour. Other books, such as Daniel Kahneman’s (2011) Thinking, Fast and Slow and I’ll Have What She’s Having by Bentley, Earls and O’Brien (2011) have since ridden the wave of interest in behavioural economics.

Suggested Citation

  • Leo Hove, 2016. "Could “Nudges” Steer Us towards a Less-Cash Society?," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Jakub Górka (ed.), Transforming Payment Systems in Europe, chapter 3, pages 70-110, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-1-137-54121-5_3
    DOI: 10.1057/9781137541215_3
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    Citations

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    Cited by:

    1. Gerhard Rösl & Franz Seitz & Karl-Heinz Tödter, 2017. "Besser ohne Bargeld? Gesamtwirtschaftliche Wohlfahrtsverluste der Bargeldabschaffung," ROME Working Papers 201706, ROME Network.
    2. Batiz-Lazo, Bernardo & Maixe-Altes, J Carles & Peon, David, 2023. "Behavioral drivers of cashless payments in Africa," MPRA Paper 117984, University Library of Munich, Germany.
    3. Rösl, Gerhard & Seitz, Franz & Tödter, Karl-Heinz, 2017. "Doing away with cash? The welfare costs of abolishing cash," IMFS Working Paper Series 112, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    4. Gerhard Rösl & Franz Seitz & Karl-Heinz Tödter, 2019. "The Cost of Overcoming the Zero Lower-Bound: A Welfare Analysis," Economies, MDPI, vol. 7(3), pages 1-18, July.

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