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Books > Business & Economics > Economics > Microeconomics
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Behavioral Public Economics - Social Incentives and Social Preferences (Paperback)
Loot Price: R1,277
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Behavioral Public Economics - Social Incentives and Social Preferences (Paperback)
Expected to ship within 12 - 19 working days
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Behavioral Public Economics shows how standard public economics can
be improved using insights from behavioral economics. Public
economics typically lists four market failures that may justify
government intervention in markets-imperfect competition (or
natural monopoly), externalities, public goods, and asymmetric
information. Under the rational choice paradigm ('agents choose
what is best for them'), public economics has examined the welfare
effects of policy. Recent research in behavioral economics
highlights a fifth market failure-individuals may make mistakes in
pursuing their own well-being. This book calls for a rethinking of
assumptions of individual behavior and provides a good foundation
for public economic theory. Key features: Introduces behavioral
perspectives into public economics. Explains why economic
incentives often undermine social preferences. Reveals that social
incentives matter for public policy. This book will be an
invaluable resource for researchers and postgraduate students in
public economics, behavioral economics, and public policy.
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