Congiu, Luca and Moscati, Ivan (2022) A review of nudges: definitions, justifications, effectiveness. Journal of Economic Surveys, 36 (1). 188 - 213. ISSN 0950-0804
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Abstract
In 2008, the behavioral economist Richard Thaler and the legal scholar Cass Sunstein published a book in which they advocated a novel approach to public policy based on the notion of a “nudge.” Roughly speaking, a nudge is an intervention in the decisional context that steers people's decisions by acting on their cognitive biases. The notion of a nudge generated an intense debate across different disciplines and proved popular with many policy makers around the world. The present article reviews the debate and research on nudges by focusing on three main dimensions: (1) the exact definition of nudges; (2) the justification of nudge policies, with a focus on “libertarian paternalism”; and (3) the effectiveness of nudges, both over time and in comparison with standard policies.
Item Type: | Article |
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Official URL: | https://onlinelibrary.wiley.com/journal/14676419 |
Additional Information: | © 2021 The Authors |
Divisions: | CPNSS |
Subjects: | H Social Sciences > HB Economic Theory B Philosophy. Psychology. Religion > BF Psychology |
JEL classification: | D - Microeconomics > D0 - General > D01 - Microeconomic Behavior: Underlying Principles M - Business Administration and Business Economics; Marketing; Accounting > M3 - Marketing and Advertising > M31 - Marketing D - Microeconomics > D9 - Intertemporal Choice and Growth > D90 - General |
Date Deposited: | 18 May 2022 11:24 |
Last Modified: | 09 Nov 2024 18:27 |
URI: | http://eprints.lse.ac.uk/id/eprint/115134 |
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