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Opportunities and Problems of The Practical Realization of The "Nudge" Approach in The Behavioral Economics

Author

Listed:
  • Aygun Erturk-Mincheva

    (Plovdiv University "P. Hilendarski", Bulgaria)

  • Plamen Tchipev

    (Plovdiv University "P. Hilendarski", Economic Research Institute at BAS, Bulgaria)

Abstract

Behavioral economists make it possible to improve individuals' decisions by proposing alternative measures to regulators based on psychological traits in the individual. The realization of this, the so-called "nudge" provides good opportunities for cheaper and more efficient results compared to the results of standard fiscal, price, etc. methods of economic regulation. Nudge, however, has restrictive conditions. It is often necessary to collect specific data, and in some cases it is necessary to specify the local socio-cultural picture– Institutional support is also needed. The lack of clear restrictions on preventing the possibility of conversion to manipulation raises concerns. The report submitted identifies and analyses the possibilities and challenges of implementing these measures.

Suggested Citation

  • Aygun Erturk-Mincheva & Plamen Tchipev, 2022. "Opportunities and Problems of The Practical Realization of The "Nudge" Approach in The Behavioral Economics," Scientific Conference of the Department of General Economic Theory, University of Economics - Varna, issue 1, pages 38-46.
    • Handle: RePEc:vrn:oitcon:y:2022:i:1:p:38-46
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    More about this item

    Keywords

    Behavioral Economics; Green Policies; Herbert Simon; Nudge; Richard Thaler;
    All these keywords.

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E71 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on the Macro Economy
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • H39 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Other
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation

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