Libertarian paternalism, a term coined by behavioural economist Richard Thaler and legal scholar Cass Sunstein, is an idea that assumes it is possible to direct consumer behaviour in a positive way without encroaching on their freedom. This can be accomplished through what the behavioural science calls 'nudges' - indirect suggestions and reinforcements that influence our … Continue reading Libertarian Paternalism: A Revolutionary Resolution or an Ostentatious Oxymoron?
Tag: behavioural economics
Tackling the Pay Gap: Personality, Judgements, and Biases
Behavioural essay dealing with the pervasive issue of pay gap by examining personality traits, labour practices, and possible non-intrusive policy solutions.