Time for Behavioral Political Economy? An Analysis of Articles in Behavioral Economics

22 Pages Posted: 20 May 2011  

Niclas Berggren

Research Institute of Industrial Economics (IFN); University of Economics, Prague - Department of Institutional Economics

Date Written: May 19, 2011

Abstract

This study analyzes leading research in behavioral economics to see whether it contains advocacy of paternalism and whether it addresses the potential cognitive limitations and biases of the policymakers who are going to implement paternalist policies. The findings reveal that 20.7% of the studied articles in behavioral economics propose paternalist policy action and that 95.5% of these do not contain any analysis of the cognitive ability of policymakers. This suggests that behavioral political economy, in which the analytical tools of behavioral economics are applied to political decision-makers as well, would offer a useful extension of the research program.

Keywords: Behavioral economics, Anomalies, Rationality, Homo economicus, Public choice

JEL Classification: D03, D78

Suggested Citation

Berggren, Niclas, Time for Behavioral Political Economy? An Analysis of Articles in Behavioral Economics (May 19, 2011). Available at SSRN: https://ssrn.com/abstract=1846184 or http://dx.doi.org/10.2139/ssrn.1846184

Niclas Berggren (Contact Author)

Research Institute of Industrial Economics (IFN) ( email )

Box 55665
Grevgatan 34, 2nd floor
Stockholm, SE-102 15
Sweden

HOME PAGE: http://www.ifn.se/nb

University of Economics, Prague - Department of Institutional Economics ( email )

Prague
Czech Republic

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