Behavioral Economics Policy Impact and Future Directions (2023) / Chapter Skim
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11 Findings Across the Policy Domains
11 Findings Across the Policy Domains
Pages 179-186
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From page 179... ...
We looked for evidence about how the core principles described in Chapter 3 affect decision making in the context of specific real-world applications and how the intervention strategies described in Chapter 4 operate in varied domains, contexts, and populations. The domains we selected cover important public policy areas, but these are by no means the only domains in which behavioral economics interventions have been studied.
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From page 180... ...
In the domains of social safety net benefits and retirement benefits, reference dependence and framing have not been extensively addressed. These gaps may reflect omissions in our necessarily brief overview of the work in each domain; they may be the result of publication bias (i.e., studies with null findings have not been published)
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From page 181... ...
Medical provider behavior: changing default settings and providing comparative information on the performance of peers are the most promising interventions to influence provider behavior to be more in line with guidelines. Retirement Strong influence of core principles: in making decisions about retirement Savings saving benefits, people are strongly influenced by the core principles -- limited attention and cognition; incorrect beliefs; present bias; and, to a slightly lesser degree, reference dependence.
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From page 182... ...
• Climate change: Across a range of efforts, the evidence demon strates the high value of targeting specific concerns, as well as the cumulative value of multiple small-scale, low-cost interventions. • Social safety net programs: Broad-scale interventions to reduce the administrative burden and better reach the neediest populations who can benefit from social safety net programs can be effective when carefully targeted.
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From page 183... ...
For example, in the context of daily decisions about energy usage, the effect on a person's electric bill -- or on climate change -- is quite far removed from an instance of forgetting to turn off a light. In this case, making the desired behavior change salient and making rewards or benefits of the behavior change immediate are promising strategies, although they may require repeated interventions.
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From page 184... ...
Conclusion 11-1: Core principles of behavioral economics have been tested repeatedly across six domains -- health, retirement benefits, social safety net benefits, climate change, education, and (to a lesser extent) criminal justice -- and the evidence for their importance and value in the design of policy interventions is well established.
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From page 185... ...
. Conclusion 11-3: There is clear and strong evidence that specific inter ventions based on behavioral economics principles have been effective at changing targeted behaviors, but matching the tool to the challenge, the circumstances, and the target population is critical to success and requires careful attention.
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