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Persistent link: https://www.econbiz.de/10003686286
This paper critically examines initial applications of Behavioural Economics (BE) to policymaking. It focuses primarily but not exclusively on what can be learnt from the early adopters of policies inspired by BE, notably America and Britain. BE is defined by its inductive scientific approach to...
Persistent link: https://www.econbiz.de/10009531381
This paper argues that telecommunications markets present the consumer with a decision-making environment that is particularly likely to be prone to established biases in consumer decision-making. The analysis identifies four properties of telecommunications markets, which in combination are...
Persistent link: https://www.econbiz.de/10009410531
This paper considers Ireland's banking crisis from the perspective of behavioural economics. It assesses whether known biases in judgement and decision-making were instrumental in the development and severity of the crisis. It investigates evidence that key decision-makers, including consumers,...
Persistent link: https://www.econbiz.de/10009126688
This paper challenges the increasingly common view that the findings of behavioural economics constitute a fourth type of market failure. The market failure framework elevates the standard competitive market model to the status of an ideal. It provides us with tools to identify departures from...
Persistent link: https://www.econbiz.de/10009737609
Over the past five years, behavioural economics has been rapidly propelled from the margins of economic analysis towards the policy mainstream. In this context, this study offers an international review of the initial applications of behavioural economics to policy, with a particular focus on...
Persistent link: https://www.econbiz.de/10012449014
We hypothesise and confirm a previously unnoticed pattern within pre-existing data on the endowment effect, collected via seven experiments employing the original design. Subjects with low valuations in binary choice relative to other subjects set a proportionally higher willingness to accept....
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