Behavioral Economics Policy Impact and Future Directions (2023) / Chapter Skim
Currently Skimming:
Pages 133-142
The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.
From page 133... ...
SOCIAL SAFETY NET BENEFITS 133 application process, followed by a search for low-cost and inexpensive ways to reduce those bottlenecks and barriers by simplifying forms, clarifying forms and instructions in simpler language, using simple postcard reminders for appointment and form requirements, and a number of similar approaches. The results were generally successful both in application outcomes, with effect sizes of from three to five percentage points (and some larger)
|
From page 134... ...
• Many eligible individuals and families lack information about complex program requirements, and low levels of education and literacy impede their capacity to acquire the information they need to accurately estimate how likely they are to receive benefits. • At least some individuals and families perceive social stigma associ ated with participating in social safety net programs; this reflects the importance of social norms in their decision-making processes.
|
From page 135... ...
Interventions that assist families directly are also more expensive than simple nudges but may have large payoffs. More research is needed on both the behavioral factors that discourage take-up of social safety net programs and the most effective interventions to increase take-up.
|
From page 136... ...
. Behavioral economics and marketing in aid of decision making among the poor.
|
From page 137... ...
American Economic Review, 107(5)
|
From page 138... ...
138 BEHAVIORAL ECONOMICS Stuber, J., & Kronebusch, K
|
From page 139... ...
The 2022 report of the Intergovernmental Panel on Climate Change (International Panel on Climate Change, 2022) indicates that changes in food consumption, shifts to more sustainable use of consumer goods, reduced energy consumption, and other behavioral and lifestyle changes could play an important role in reducing emissions that contribute to climate change.
|
From page 140... ...
Some of the challenges that apply in many contexts are externalities -- that is, the consequences or benefits that accrue to parties not directly involved -- that are factored into traditional economic models, as well as anomalies that lead to behavior that is inconsistent with the traditional models. For example, there is a large temporal distance between the actions that might benefit the climate and their consequences, so decision makers may not easily perceive the effects of their actions.
|
From page 141... ...
In addition, calculations about the climate effects of many behaviors and choices change as new information is accumulated and factored into modeling, and most people are well aware that there are many things scientists do not know. In the face of such uncertainty, people tend to envision changes in climate that more closely resemble their lived experience (a status quo bias)
|
From page 142... ...
that specifically target behavioral interventions can create incentives for both kinds of decisions.4 We consider several of the committee's core principles in this domain: limited attention and cognition, social preferences and norms, and present bias and reference dependence. Limited Attention and Cognition Messer, Ganguly, & Xie (2022)
|
Key Terms
This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More
information on Chapter Skim is available.