Many consumers suffer from present bias. To present-biased consumers, the long-term is a foreign country, and they are not sure that they will ever visit. If consumers suffer from present bias, there is room to rethink national policies in multiple domains. For example, regulatory mandates might...

Bob Dylan celebrates “songs about roses growing out of people's brains and lovers who are really geese and swans that turn into angels.” He thinks that “museums are vulgar,” because “they’re all against sex.” He proclaims,“Folk music is a bunch of fat people.” He notes, “Just...

Although there has been a proliferation of research and policy work into how nudges shape people’s behaviour, most studies stop far short of welfare analysis. In the current work, we critically reflect on recent efforts to proxy the welfare impact of nudges using willingness to pay and...

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...

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...

Why do adolescents take risks? What is the appropriate response to adolescent risk-taking? This Commentary for a special issue of Developmental Review, discussing a set of papers in that issue, explores these questions with attention to changes in the adolescent brain, to dual-processing theory,...