We’re all behavioral economists

Neil Levy (Macquarie): Nudges in a Post-truth World (and a response). Shlomo Benartzi et al. (UCLA): Should Governments Invest More in Nudging? From Governing, how government data can supercharge the nudge. Behavioral economics, the science behind governmental “nudging” and studies disparaging conservatives, has run aground — it’s time to reform the field for the benefit of scientists and citizens alike. There may be all sorts of reasons to object to nudges — but we shouldn’t object to them on the grounds that they bypass our reasoning. Cass Sunstein (Harvard) Misconceptions About Nudges. Uber shows how not to apply behavioral economics. The future development of behavioural economics should focus on a streamlining process that will clarify core issues, fill conceptual gaps, and create tractable models.

Richard Thaler won the Nobel Prize for making economics more human — and more real. What’s a urinal fly, and what does it have to with winning a Nobel Prize? This headline is a nudge to get you to read about Nobel economist Richard Thaler. Thaler changed my life (and everybody else’s): Cass Sunstein, the Nobel winner’s collaborator, remembers the thrill of first encountering his ideas. We’re all behavioral economists now. Thaler’s prescriptions come with potential — and limitations.