The Implications of Behavioral Economics

Peter Van Doren joins us once more on the podcast, this time for a discussion on Richard Thaler’s work in behavioral economics.What’s the difference between behavioral economics and more traditional neoclassical economics? Is the goal of behavioral economics really to implement consumer preferences? Are “nudges” paternalistic and insulting, or do they merely—as behavioral economists would say—create default conditions to correct the influence of cognative biases that stop people from doing what they actually want to do anyway?Show Notes and Further ReadingListeners may be interested in our other Free Thoughts episodes with Peter Van Doren.Van Doren mentions this debate in Regulation between Jonathan Gruber and W. Kip Viscusi.This Crazy Mouse Won’t Leave Me Alone by Dan Deacon is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 International License.Shootin Stars by Aero Chord feat. DDARK provided by NoCopyrightSounds: https://www.youtube.com/watch?v=PTF5xgT-pm8 Hosted on Acast. See acast.com/privacy for more information.