Behavioral Economics Policy Impact and Future Directions (2023) / Chapter Skim
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Pages 7-12
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From page 7... ...
Specifically, research is needed to: • advance behavioral design and intervention design methods to better link behavioral principles and insights to specific inter vention and policy goals; • advance methods for conducting pilot and rapid-cycle studies; • accumulate more evidence on how findings from one setting can be applied to other settings or at broader scales; • realize the potential for artificial intelligence and machine learning approaches to improve tailoring and targeting; • bring cutting-edge adaptive trial design approaches to behav ioral economics studies; and • incorporate empirical methods from other disciplines and fields that can enrich behavioral economics research. Recommendation 14-4: Researchers, funders of research, and enti ties that support or sponsor behavioral units in organizations should prioritize research and practice initiatives that increase the impact of behavioral economics findings through implementation, scale-up, and evaluation of potentially successful interventions and policies.
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From page 8... ...
It is likely that ideas not explicitly identified as coming from behavioral economics research, but that nevertheless take advantage of behavioral insights, have already influenced the development of policy. All of these are reasons to be optimistic about the future contributions of the field.
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From page 9... ...
. The influence of this work on the discipline of economics has grown and led economists to take seriously the limitations of the traditional model's assumptions 9
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. Today, behavioral economics is a major subfield within the discipline of economics that has had an influence on the study of individual behavior in the contexts of financial behavior, health, education, and many other domains.
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An early question was how the committee should identify the boundaries of the field. Definitions of behavioral economics vary, along with ideas of what it should encompass, when it really began, and what might be considered its essential features.
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From page 12... ...
A systematic review of behavioral economics research across all relevant domains was not feasible. Instead, the committee determined that an overview of a varied subset of fields would best meet the charge of surveying the available research to identify features of clearly successful and less successful applications and assess this body of work, including controversies and questions that have arisen.
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