Nudging, calculation, and utopia

Berg, C and Davidson, S 2017, 'Nudging, calculation, and utopia', Journal of Behavioral Economics for Policy, vol. 1, no. SpecialIssue, pp. 49-52.

Document type: Journal Article
Collection: Journal Articles

Title Nudging, calculation, and utopia
Author(s) Berg, C
Davidson, S
Year 2017
Journal name Journal of Behavioral Economics for Policy
Volume number 1
Issue number SpecialIssue
Start page 49
End page 52
Total pages 4
Publisher Society for the Advancement of Behavioral Economics
Abstract In this paper we provide a critique of behavioural economics or nudging as a basis for practical policy making purposes. While behavioural economics operates as a plausible critique of standard neoclassical economics, it suffers from the same methodological errors inherent within that tradition. Just as socialist planners lacked the information (and incentives) to allocate resources across an entire economy and economists lack the information to optimally correct externalities, so too libertarian paternalists lack the information to second guess consumer preferences and opportunity costs.
Subject Microeconomic Theory
Economic Theory not elsewhere classified
Keyword(s) nudging
information problem
ISSN 2572-8997
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Created: Mon, 04 Dec 2017, 13:18:00 EST by Catalyst Administrator
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