Comments on: More Misbehavioral Economics

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By: The Irrationality of Payday Lending Regulation | Buckeye Institute

The Irrationality of Payday Lending Regulation | Buckeye Institute — Mon, 17 Mar 2008 13:25:37 +0000

[...] article reminds me of something I read on Will Wilkinson’s blog. He discusses irrationality in economics and has this gem: I say, again and again, that it is an [...]

By: links for 2008-03-10 at Matthew Henty

links for 2008-03-10 at Matthew Henty — Mon, 10 Mar 2008 06:22:15 +0000

[...] Will Wilkinson / The Fly Bottle » Blog Archive » More Misbehavioral Economics Questioning the assumption that if people are “irrational” the Government is right/entitled/should intervene and make people do something different. i.e opt-in/opt-out of pensions savings. (tags: paternalism economics psychology rationality) [...]

By: ad

ad — Fri, 07 Mar 2008 19:54:12 +0000

Perhaps the greatest challenge facing behavioral economics is demonstrating its applicability in the real world.

I suspect the major application is generating justifications for additional government control of something or other.

I have hardly ever seen it used for any other reason.

By: ad

ad — Fri, 07 Mar 2008 19:54:00 +0000

Perhaps the greatest challenge facing behavioral economics is demonstrating its applicability in the real world.

I suspect the major application is generating justifications for additional government control of something or other.

I have hardly ever seen it used for any other reason.

By: Rabbit’s blog :: Irracionalidade Como Argumento Parternalista

Rabbit’s blog :: Irracionalidade Como Argumento Parternalista — Thu, 06 Mar 2008 19:39:57 +0000

[...] Will Wilkinson (via overcoming bias) [...]

By: James

James — Wed, 05 Mar 2008 20:57:21 +0000

Let’s just allow the irrationality to exist even if it harms the market. Just accept it.

By: James

James — Wed, 05 Mar 2008 20:57:00 +0000

Let’s just allow the irrationality to exist even if it harms the market. Just accept it.

By: ed

ed — Tue, 04 Mar 2008 06:56:54 +0000

I think Will is pretty much right here. But I also think libertarians should be pretty happy about this new “soft” paternalism. It seems to me that the more time we spend arguing about exactly how and which way we should “nudge” behavior, the less time will be spent writing the typical types of regulations that DON’T have an opt-out feature.

By: ed

ed — Tue, 04 Mar 2008 06:56:00 +0000

By: Hunter V. Pittsburgh

Hunter V. Pittsburgh — Sun, 02 Mar 2008 20:49:20 +0000

I wrote a long-winded reply to this, although Scott Wood captures a good deal of what I went for. Behavioral economics has very foreboding implications for the desirability of regulation by democratically accountable actors. Establishing that voters are rubes doesn’t exactly commend the prospect of letting their representatives run wild.

By: Hunter V. Pittsburgh

Hunter V. Pittsburgh — Sun, 02 Mar 2008 20:49:00 +0000