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We identify and document a new principle of economic behavior: the principle of the Malevolent Hiding Hand. In a famous discussion, Albert Hirschman celebrated the Hiding Hand, which he saw as a benevolent mechanism by which unrealistically optimistic planners embark on unexpectedly challenging...
Persistent link: https://www.econbiz.de/10013016511
Many people, including many lawyers and judges, disparage law reviews (and the books that sometimes result from them) on the ground that they often deal with abstruse topics, of little interest to the bar, and are sometimes full of jargon-filled, excessively academic, and sometimes impenetrable...
Persistent link: https://www.econbiz.de/10013016686
From the streets of Hong Kong to Ferguson, Missouri, civil disobedience has again become newsworthy. What explains the prevalence and extremity of acts of civil disobedience?This paper presents a model in which protest planners choose the nature of the disturbance hoping to influence voters (or...
Persistent link: https://www.econbiz.de/10013019505
In this Article I explore the expressive function of law - the function of law in "making statements" as opposed to controlling behavior directly. I do so by focusing on the particular issue of how legal "statements" might be designed to change social norms. I catalogue a range of possible (and...
Persistent link: https://www.econbiz.de/10013020477
If policymakers could measure the actual welfare effects of regulations, and if they had a properly capacious sense of welfare, they would not need to resort to cost-benefit analysis, which gives undue weight to some values and insufficient weight to others. Surveys of self-reported well-being...
Persistent link: https://www.econbiz.de/10013021619
This paper offers a framework for regulating internalities. Using a simple economic model, we provide four principles for designing and evaluating behaviorally-motivated policy. We then outline rules for determining which contexts reliably reflect true preferences and discuss empirical...
Persistent link: https://www.econbiz.de/10013022181
Some people believe that nudges undermine human agency, but with appropriate nudges, neither agency nor consumer freedom is at risk. On the contrary, nudges can promote both goals. In some contexts, they are indispensable. There is no opposition between education on the one hand and nudges on...
Persistent link: https://www.econbiz.de/10013024342
This paper offers a framework for regulating internalities. Using a simple economic model, we provide four principles for designing and evaluating behaviorally-motivated policy. We then outline rules for determining which contexts reliably reflect true preferences and discuss empirical...
Persistent link: https://www.econbiz.de/10013027352
In diverse areas – from retirement savings, to fuel economy, to prescription drugs, to consumer credit, to food and beverage consumption – government makes personal decisions for us or helps us make what it sees as better decisions. In other words, government serves as our agent. Understood...
Persistent link: https://www.econbiz.de/10013027459
Decision makers do not make choices in a vacuum. They make them in an environment where many features, noticed and unnoticed, can influence their decisions. The person who creates that environment is, in our terminology, a choice architect. In this paper we analyze some of the tools that are...
Persistent link: https://www.econbiz.de/10013040464