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Time for behavioral political economy? An analysis of articles in behavioral economics

  • Berggren, Niclas

    ()

    (The Ratio Institute)

This study analyzes leading research in behavioral economics to see whether it contains advocacy of paternalism and whether it addresses the potential cognitive limitations and biases of the policymakers who are going to implement paternalist policies. The findings reveal that 20.7% of the studied articles in behavioral economics propose paternalist policy action and that 95.5% of these do not contain any analysis of the cognitive ability of policymakers. This suggests that behavioral political economy, in which the analytical tools of behavioral economics are applied to political decision-makers as well, would offer a useful extension of the research program.

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File URL: http://ratio.se/app/uploads/2014/11/nb_behavioral_166.pdf
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Paper provided by The Ratio Institute in its series Ratio Working Papers with number 166.

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Length: 22 pages
Date of creation: 19 May 2011
Date of revision:
Publication status: Forthcoming as Berggren, Niclas, 'Time for behavioral political economy? An analysis of articles in behavioral economics' in Review of Austrian Economics, 2011.
Handle: RePEc:hhs:ratioi:0166
Contact details of provider: Postal: The Ratio Institute, P.O. Box 5095, SE-102 42 Stockholm, Sweden
Phone: 08-441 59 00
Fax: 08-441 59 29
Web page: http://www.ratio.se/Email:


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  12. Edward L. Glaeser, 2004. "Psychology and the Market," NBER Working Papers 10203, National Bureau of Economic Research, Inc.
  13. Levy, David M, 2002. " Robust Institutions," The Review of Austrian Economics, Springer, vol. 15(2-3), pages 131-42, June.
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  20. John Conlisk, 1996. "Why Bounded Rationality?," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 669-700, June.
  21. Kfir Eliaz & Ran Spiegler, 2006. "Contracting with Diversely Naive Agents," Review of Economic Studies, Oxford University Press, vol. 73(3), pages 689-714.
  22. Scott Beaulier & J. Subrick, 2006. "Poverty traps and the robust political economy of development assistance," The Review of Austrian Economics, Springer, vol. 19(2), pages 217-226, June.
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  28. James M. Buchanan, 1949. "The Pure Theory of Government Finance: A Suggested Approach," Journal of Political Economy, University of Chicago Press, vol. 57, pages 496.
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  30. Richard H. Thaler & Cass R. Sunstein, 2003. "Libertarian Paternalism," American Economic Review, American Economic Association, vol. 93(2), pages 175-179, May.
  31. Glaeser, Edward L., 2006. "Paternalism and Psychology," Working Paper Series rwp06-006, Harvard University, John F. Kennedy School of Government.
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