Asked by
Kierra Spencer
on Nov 25, 2024Verified
Some economists suggest that we should use the insights of behavioral economics to
A) coerce people to make decisions toward improving their happiness.
B) design elaborate rules to restrict individuals' chances of hurting themselves.
C) nudge people toward choices that improve their welfare or that of others.
D) provide huge monetary incentives to people to move them to action.
Behavioral Economics
A field of economics that analyzes how psychological, cognitive, emotional, cultural, and social factors affect economic decisions.
Nudge
A concept in behavioral economics suggesting a way to influence people's behavior and decision making subtly without limiting their choices.
- Comprehend the employment of behavioral economics concepts to better public policy and personal decision strategies.
Verified Answer
NB
Learning Objectives
- Comprehend the employment of behavioral economics concepts to better public policy and personal decision strategies.
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