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Week 7
Erasmus Universiteit · Int. Economics and Business Economics
Y1 - Int. to Behavioural EconomicsInhoud
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- Policies to Improve Public Welfare
- Why Do Nudges Work?
- Nudging as "Libertarian Paternalism"
- Saving for Retirement: The “Save More Tomorrow” Program
- Why Is It Hard to Save for Retirement?
- The Role of Automatic Enrollment
- Behavioral Phenomena Related to Saving
- Save More Tomorrow: Behavioral Design for Better Saving
- Results from the First Implementation
- Developing a Nudge: Ethical Considerations and Welfare Criteria
- Choosing a Direction: Welfare Criteria
- 1. Decision Utility
- 2. Experienced Utility
- Challenges of Experienced Utility
- Brickman et al. (1978): Adaptation to Major Life Events
- Key Findings
- Psychological Insights
- Beyond Experienced Utility
- Key Limitations of Experienced Utility :
- Implication :
- Criticism of Nudging
- 1. Nudges Can Be Misused
- 2. Choice Architects Have Biases Too
- 3. Discomfort with Paternalism
- 4. Slippery Slope to Hard Paternalism
- 5. Nudges May Not Be Enough
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