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Heuristics and public policy : decision making under bounded rationality

Dhami, Sanjit S.; Al-Nowaihi, Ali; Sunstein, Cass R. - 2018

How do human beings make decisions when, as the evidence indicates, the assumptions of the Bayesian rationality … rationality, with particular emphasis on growing formalization of those departures, which add necessary precision. We also explore … the relationship between bounded rationality and libertarian paternalism, or nudges, and show that some recent objections …

Persistent link: https://www.econbiz.de/10011926917

What Do People Want to Know? Information Avoidance and Food Policy Implications

Sunstein, Cass R.; Reisch, Lucia A.; Kaiser, Micha - 2021

What information would people like to have? What information would they prefer to avoid? How does the provision of information bear on welfare? And what does this mean for food policy? Representative surveys in eleven nations find that substantial percentages of people do not want to receive...

Persistent link: https://www.econbiz.de/10013230064

The Use of Algorithms in Society

Sunstein, Cass R. - 2023

The judgments of human beings can be biased; they can also be noisy. Across a wide range of settings, use of algorithms is likely to improve accuracy, because algorithms will reduce both bias and noise. Indeed, algorithms can help identify the role of human biases; they might even identify biases...

Persistent link: https://www.econbiz.de/10014264706

The Rhetoric of Reaction Redux

Sunstein, Cass R. - 2022

In The Rhetoric of Reaction, published in 1991, Albert Hirschman identified three standard objections to reform proposals: perversity, futility, and jeopardy. In Hirschman’s account, these objections define reactionary rhetoric. As Hirschman had it, a proposal would be “perverse” if it...

Persistent link: https://www.econbiz.de/10014082407

Governing by Algorithm? No Noise and (Potentially) Less Bias

Sunstein, Cass R. - 2021

As intuitive statisticians, human beings suffer from identifiable biases, cognitive and otherwise. Human beings can also be “noisy,” in the sense that their judgments show unwanted variability. As a result, public institutions, including those that consist of administrative prosecutors and...

Persistent link: https://www.econbiz.de/10013211902

Welfare Now

Sunstein, Cass R. - 2022

Behaviorally informed interventions include nudges, taxes, subsidies, bans, and mandates. In evaluating such interventions, policymakers should consider both their welfare effects (including, for example, their potentially negative effects on subjective well-being) and their effects on...

Persistent link: https://www.econbiz.de/10013294321

Take-Up

Bearson, Dafna; Sunstein, Cass R. - 2023

Why are take-up rates incomplete or low when opportunities are unambiguously advantageous to people who are eligible for them? How can public officials promote higher take-up of opportunity? All over the world, these are challenges of the first order. There are three primary barriers to take-up:...

Persistent link: https://www.econbiz.de/10014351179

Nudges vs. Shoves

Sunstein, Cass R. - 2014

Behavioral findings, demonstrating human errors, have led some people to favor choice-preserving responses (“nudges”), and others to favor mandates and bans. If people’s choices lead them to err, it might seem puzzling, or even odd, to respond with solutions that insist on preserving...

Persistent link: https://www.econbiz.de/10014149064

Heuristics and public policy : decision-making under bounded rationality

Dhami, Sanjit S.; Al-Nowaihi, Ali; Sunstein, Cass R. - In: Studies in microeconomics 7 (2019) 1, pp. 7-58

Persistent link: https://www.econbiz.de/10012159959

Interest-Group Theories of Regulation : A Skeptical Note

Sunstein, Cass R. - 2021

As a rule, regulation is not acquired by “the industry,” and it is not designed and operated primarily for its benefit. The mechanisms behind the promulgation of regulations are multiple, and almost all of the time, it greatly matters whether regulators believe that regulations will, all...

Persistent link: https://www.econbiz.de/10013230511