This post is dedicated to several of my friends studying and working with public policy.
Click Here To Read: 7 Behavioral Principles For Policy Makers
Introduction (Via NEF)
The aim of this Briefing is primarily to be an aid to policy-makers who use economic tools, by providing a summary of the latest thinking from behavioural economics. It should also be helpful to the broader policy-making community by providing a theoretical underpinning for many policy approaches that have, up to now, been used intuitively.
The standard (neoclassical) economic analysis assumes that humans are rational and behave in a way to maximise their individual self-interest. Whilst this ‘rational man’ assumption yields a powerful tool for analysis, it has many shortfalls that can lead to unrealistic economic analysis and policy-making. This Briefing distils many
concepts from behavioural economics and psychology down to seven key principles, which highlight the main shortfalls in the neoclassical model of human behaviour.
7 Principles for Policy Makers (Via NEF):
Principle 1: Other people’s behavior matters
Principle 2 : Habits Are Important
Principle 3: People are motivated to “do the right thing”
Principle 4: People’s self expectations influence how they behave
Principle 5: People are loss averse
Principle 6: People are bad at computation
Principle 7: People need to feel involved and efective to make a change
So To Foster Sustainable Behavior You Must (NEF):
Emphasise written over verbal commitments.
Ask for public commitments.
Seek group commitments.
Actively involve the person.
Consider cost-effective ways to obtain commitments.
Use existing points of contact to obtain commitments.
Help people to view themselves as environmentally concerned.
Don’t use coercion (commitments must be freely volunteered).Click Here To Read: 7 Behavioral Principles For Policy Makers
H/T GBC
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