All Posts Tagged With: "Richard Thaler"
Paternalist Nudges
Harvard law professor Cass Sunstein and University of Chicago economics professor Richard Thaler are self-proclaimed “libertarian paternalists” (http://tinyurl.com/6xy6l4). Contradiction in terms? They think not. According to their approach, “[G]overnments try to move people in good directions without imposing penalties, mandates or bans.” The part about “moving people in good directions” is the paternalism. The part [...]
1Nov2008 | Sheldon Richman | 0 comments | ContinuedPaternalist Nudges
Cass Sunstein and Richard Thaler are self-proclaimed libertarian paternalists. A contradiction in terms?
15Aug2008 | Sheldon Richman | 0 comments | ContinuedLibertarian Paternalism: A Test
Behavioral economics is a growing subfield of economics based on the finding that people are not as rational as economic models have traditionally assumed. Numerous experiments have shown that people’s choices are systematically altered in response to changes in how those choices are framed, even though the framing is irrelevant to the consequences of those [...]
1Jul2007 | Dwight R. Lee | 0 comments | ContinuedLibertarian Paternalism?
Can paternalism and libertarianism be squared with each other? Two prominent scholars think so. University of Chicago law professor Cass Sunstein and University of Chicago economist Richard Thaler make a case for what they call “libertarian paternalism.” Here’s their argument. A large body of experimental data, gathered mostly by behavioral psychologists and behavioral economists, shows [...]
1Sep2006 | Donald J. Boudreaux | 0 comments | ContinuedA Painless Way to Triple Your Savings
“The human mind is charming in its unreasonableness, its inveterate prejudices, and its waywardness and unpredictability.” —LIN YUTANG1 “Behavioral” finance is the hot new field in the rapidly growing “imperial” science of economics. Consider the titles of recent books on the subject: Irrational Exuberance by Robert Shiller of Yale University, who correctly warned investors that [...]
1Jun2002 | Mark Skousen | 0 comments | Continued-
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