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Behavioral economics and the 'new' paternalism
[journal article]
Abstract The paper provides a critical appraisal of the normative program of behavioral economics known as 'new paternalism'. First, it explores the theoretical foundations of behavioral economics, describes major behavioral anomalies associated with bounded rationality of economic agents and discusses its n... view more
The paper provides a critical appraisal of the normative program of behavioral economics known as 'new paternalism'. First, it explores the theoretical foundations of behavioral economics, describes major behavioral anomalies associated with bounded rationality of economic agents and discusses its normative principles and political implications. It then discusses the main empirical and conceptual drawbacks of new paternalism and provides arguments for the alternative non-welfarist normative tradition based on the idea of freedom.... view less
Keywords
paternalism
Classification
National Economy
Free Keywords
behavioral economics; welfare economics; new paternalism; normative analysis
Document language
English
Publication Year
2015
Page/Pages
p. 81-107
Journal
Russian Journal of Economics, 1 (2015) 1
ISSN
2618-7213
Status
Published Version; reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0