A Triple Test for Behavioral Economics Models and Public Health Policy

46 Pages Posted: 31 Jan 2014

See all articles by Ryota Nakamura

Ryota Nakamura

University of East Anglia (UEA)

Marc Suhrcke

University of East Anglia

Daniel John Zizzo

University of Queensland

Date Written: January 29, 2014

Abstract

We propose a triple test to evaluate the usefulness of behavioral economics models for public health policy. Test 1 is whether the model provides reasonably new insights. Test 2 is on whether these have been properly applied to policy settings. Test 3 is whether they are corroborated by evidence. Where a test is not passed, this may point to directions for needed further research. We exemplify by considering the cases of social interactions models, self-control models and, in relation to health message framing, prospect theory; out of these, only a correctly applied prospect theory fully passes the tests at present.

Keywords: behavioral economics, nudges, peer effects, self-control, prospect theory, framing effects

JEL Classification: B41, D04, I18

Suggested Citation

Nakamura, Ryota and Suhrcke, Marc and Zizzo, Daniel John, A Triple Test for Behavioral Economics Models and Public Health Policy (January 29, 2014). Available at SSRN: https://ssrn.com/abstract=2387654 or http://dx.doi.org/10.2139/ssrn.2387654

Ryota Nakamura

University of East Anglia (UEA) ( email )

Norwich Research Park
Norwich, Norfolk NR4 7TJ
United Kingdom

Marc Suhrcke

University of East Anglia ( email )

Norwich Research Park
Norwich, Norfolk NR4 7TJ
United Kingdom

Daniel John Zizzo (Contact Author)

University of Queensland ( email )

St Lucia QLD 4072, Australia
Brisbane, Queensland
Australia

HOME PAGE: http://www.danielzizzo.com

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