Title: Behavioral and Experimental Economics Do Inform Public Policy
Abstract:Experimental and behavioral economics are well-established branches of economic science.This essay presents and discusses some results and behavioral regularities from these fields, which are of poten...Experimental and behavioral economics are well-established branches of economic science.This essay presents and discusses some results and behavioral regularities from these fields, which are of potential and actual importance for public policy.After a brief introduction to what experimental and behavioral economics are, some important behavioral regularities ---presentation and framing effects, prosocial behavior, and reciprocity ---are introduced, and it is reported how they interact with prominent trading institutions, taxation, and social and individual well-being.Throughout, some implications for public policy are discussed.Read More