Year: 2017
Type: article
Abstract: International development policy is ripe for an overhaul. Behavioral science can help policymakers to spur changes in behaviors that are difficult to explain from a conventional economic perspective and impede economic development. We focus here on two well-documented, often coinciding psychological phenomena that have particularly wide-ranging implications for development policy: present bias (favoring immediate rewards over long-term considerations) and limited attention. We present a number of general policy recommendations that are informed by insight into these phenomena and offer concrete examples of how the recommendations can be implemented to help low-income individuals improve their lives and reach their long-term goals.
Source: Behavioral Science & Policy
Institutions: University of Chicago, World Bank, University of Toronto, Innovations for Poverty Action, University of Virginia, Manpower Demonstration Research Corporation, Ideas42, United States Agency for International Development, Massachusetts Institute of Technology, National Bureau of Economic Research, Princeton University, Yale University
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
SDG: No poverty
Open Access status: bronze
OpenAlex ID: W4386836974