Decision Sciences
4 years ago

Revolutionizing Public Policies: How Behavioural Economics Shapes Decision-Making

Facta Universitatis Series Law and Politics
BEHAVIOURAL ECONOMICS AND PUBLIC POLICIES: SOME INTRODUCTORY ISSUES
Aleksandar Mojašević

Paper Summary

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This paper explains how behavioural economics can help shape public policies by understanding how people make decisions. It introduces concepts like nudges, choice architecture, and cognitive biases. The paper also discusses criticisms of behavioural economics and shows real-world examples of how it has been used in the UK to improve policy design.