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Informational requirements of nudging


Benkert, Jean-Michel; Netzer, Nick (2016). Informational requirements of nudging. Working paper series / Department of Economics 190, University of Zurich.

Abstract

A nudge is a paternalistic government intervention that attempts to improve choices by changing the framing of a decision problem. We propose a welfare- theoretic foundation for nudging similar in spirit to the classical revealed preference approach, by investigating a model where preferences and mistakes of an agent can be elicited from her choices under different frames. We provide characterizations of the classes of behavioral models for which nudging is possible or impossible, and we derive results on the required quantity of information. We also study an extended application to a savings problem.

Abstract

A nudge is a paternalistic government intervention that attempts to improve choices by changing the framing of a decision problem. We propose a welfare- theoretic foundation for nudging similar in spirit to the classical revealed preference approach, by investigating a model where preferences and mistakes of an agent can be elicited from her choices under different frames. We provide characterizations of the classes of behavioral models for which nudging is possible or impossible, and we derive results on the required quantity of information. We also study an extended application to a savings problem.

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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Economics
Working Paper Series > Department of Economics
Dewey Decimal Classification:330 Economics
JEL Classification:D03, D04, D60, D82
Uncontrolled Keywords:Nudge, framing, behavioral welfare economics, revealed preference
Language:English
Date:August 2016
Deposited On:22 Apr 2015 14:28
Last Modified:16 Aug 2017 08:23
Series Name:Working paper series / Department of Economics
Number of Pages:60
ISSN:1664-7041
Additional Information:Revised version
Official URL:http://www.econ.uzh.ch/static/wp/econwp190.pdf
Related URLs:http://www.econ.uzh.ch/static/workingpapers.php

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