Search results
Results from the WOW.Com Content Network
David Gal has argued that many of these issues stem from behavioral economics being too concerned with understanding how behavior deviates from standard economic models rather than with understanding why people behave the way they do. Understanding why behavior occurs is necessary for the creation of generalizable knowledge, the goal of science ...
Since voter behavior influences public officials' behavior, public-choice theory often uses results from social-choice theory. General treatments of public choice may also be classified under public economics. [7] Building upon economic theory, public choice has a few core tenets. One is that no decision is made by an aggregate whole.
These are referred to as the policy goals: the outcomes which the economic policy aims to achieve. To achieve these goals, governments use policy tools which are under the control of the government. These generally include the interest rate and money supply , tax and government spending, tariffs, exchange rates , labor market regulations, and ...
The public interest theory of regulation claims that government regulation acts to protect and benefit the public. [1] The public interest is "the welfare or well-being of the general public" and society. [2] Regulation in this context means the employment of legal instruments (laws and rules) for the implementation of policy objectives.
In the 1978 Chilean national consultation, in addition to the biased question text, the SI ("Yes" to Pinochet and his government) is under a sketch of the flag of Chile while NO is under a lower dark flag. This nudge [35] and other measures got a 79% support for "yes". There are various notable examples of government applications of nudge theory.
Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity.Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare.
Regulation is generally defined as legislation imposed by a government on individuals and private sector firms in order to regulate and modify economic behaviors. [1] Conflict can occur between public services and commercial procedures (e.g. maximizing profit ), the interests of the people using these services (see market failure ), and also ...
Behavioral game theory analyzes interactive strategic decisions and behavior using the methods of game theory, [2] experimental economics, and experimental psychology. Experiments include testing deviations from typical simplifications of economic theory such as the independence axiom [3] and neglect of altruism, [4] fairness, [5] and framing ...