Regulatory Policy and Behavioural Economics

image of Regulatory Policy and Behavioural Economics

Over the past five years, behavioural economics has been rapidly propelled from the margins of economic analysis towards the policy mainstream. In this context, this study offers an international review of the initial applications of behavioural economics to policy, with a particular focus on regulatory policy. It describes the extent to which behavioural findings have begun to influence public policy in a number of OECD countries, referring to a total of more than 60 instances, the majority of which concern regulatory policy.



Executive summary

In recent years, researchers in behavioural economics and related disciplines have discovered numerous systematic influences on people’s economic decisions, many of which run counter to orthodox microeconomics. This report presents an international review of how this relatively new science is being applied to policy, concentrating primarily but not exclusively on regulatory policy. It refers to more than 60 instances of policies that are informed by behavioural economics. It then considers possible lessons for regulatory design and delivery.


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