Decision Sciences
8 years ago

Revolutionizing Policies: How Behavioral Economics Can Transform Savings and Health

De Economist
What Does Behavioral Economics Mean for Policy? Challenges to Savings and Health Policies in the Netherlands
Peter Kooreman, Henriëtte Prast

Paper Summary

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Behavioral economics shows that people often act differently from what they say they want, are influenced by how choices are presented, and have limited thinking abilities. This affects decisions about money and health. Policies can be made to help people make choices that match what they really want. By using new insights, policies can be improved by gently guiding people towards better decisions, like setting smart defaults and using creative ways to commit to choices.