Behavioral policies in Canada

When behavioural economics goes random

Over the past decade there has been a tremendous rise in the application of behavioural economics to public policy the world over. Combatting known cognitive and perceptual biases in our decision-making processes, the application of behavioural economics to public policy is occurring in diverse settings, from encouraging the timely and honest payment of taxes, to promoting energy conservation at home (BEworks 2014). Such public policy has typically emanated from centralised labs or innovation hubs specifically set up within government departments to rigorously trial and disseminate findings from the literature. The most well-known example of these centralised hubs is the UK’s Behavioural Insights Team (BIT). …..[READ]

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