Title: Behavioral Economics | Psychology Today
Headings: Behavioral Economics
Behavioral Economics
Contents
Understanding Behavioral Economics
What is the difference between traditional economics and behavioral economics?
Why is behavioral economics important?
Do economic incentives to change behavior work?
Irrationality and Behavioral Economics
What are some examples of bias in behavioral economics?
What is the main drawback in using heuristics to solve problems?
What are some examples of heuristics that lead to irrational choices?
Does having too many options lead to poor decision-making?
How Can You Influence People's Behavior?
What is nudge theory?
What is an example of a nudge?
What are some nudging techniques?
Is nudging ethical?

Content: Created with Sketch. Whether nudging yourself or someone else, it’s helpful to use reminders and prompts on a regular basis to keep target behaviors top of mind. Reframing negative thoughts as positive ones can boost motivation, and reducing the accessibility of temptations can prevent backsliding. Additionally, social pressure can be an effective tool to increase accountability for reaching one’s goals. Is nudging ethical? Created with Sketch. Nudges are generally cost-effective and simple to implement, but there is some debate over the ethics. Some argue that nudging can manipulate people into choices that they would not support, given time for reflection. Other ethical considerations include the nature of the defaults being offered, as well as the transparency of the motives and politics of the person or individual doing the nudging.