Behavioral economics - a field based in collaborations among economists and psychologists - focuses on integrating a nuanced understanding of behavior into models of decision-making. Since the mid-20th century, this growing field has produced research in numerous domains and has influenced policymaking, research, and marketing. However, little has been done to assess these contributions and review evidence of their use in the policy arena.
Behavioral Economics: Policy Impact and Future Directions examines the evidence for behavioral economics and its application in six public policy domains: health, retirement benefits, climate change, social safety net benefits, climate change, education, and criminal justice. The report concludes that the principles of behavioral economics are indispensable for the design of policy and recommends integrating behavioral specialists into policy development within government units. In addition, the report calls for strengthening research methodology and identifies research priorities for building on the accomplishments of the field to date.
National Academies of Sciences, Engineering, and Medicine. 2023. Behavioral Economics: Policy Impact and Future Directions. Washington, DC: The National Academies Press. https://doi.org/10.17226/26874.
|2 Development of Behavioral Economics||13-36|
|3 Foundational Behavioral and Economic Ideas||37-58|
|4 The Behavioral Economics Toolkit: Policy Levers and Intervention Strategies||59-78|
|6 Retirement Benefits||99-106|
|7 Social Safety Net Benefits||107-116|
|8 Climate Change||117-132|
|10 Criminal Justice System||143-152|
|11 Findings Across the Policy Domains||153-158|
|12 Conducting and Disseminating Behavioral Economics Research||159-168|
|13 Implementing Behavioral Economics Approaches||169-178|
|14 Advancing the Field of Behavioral Economics||179-188|
|Appendix: Biographical Sketches of Committee on Future Directions for Applying Behavioral Economics to Policy||189-192|
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