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Behavioral Economics, Classical Economics, Public Policy, Politics, and Health

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Air date: Friday, September 23, 2011, 1:30:00 PM
Time displayed is Eastern Time, Washington DC Local
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Category: BSSR - Behavioral and Social Sciences
Runtime: 01:12:25
Description: BSSR Lecture Series

Behavioral economics has enjoyed an expanding influence on policy, offering novel solutions to problems, including many involving health, that traditional economics, with its assumption of rational choice, often fails to even acknowledge. I will review the rationale for and tools of behavioral economics, in the process discussing several of my own field experiments evaluating novel behavioral interventions in the domain of health. However, I will also raise a variety of issues that need to be confronted for behavioral economics to have a continuing, constructive, influence on policy.

We lack key evidence on the long-term consequences and potential unintended side-effects of behavioral interventions, and have not adequately thought through some of the ethical and practical considerations incumbent in many behaviorally informed policies. My broad conclusion will be that behavioral economics provides many useful tools and approaches, but can potentially play a negative role if it substitutes for, rather than complements, the types of policies favored by traditional economics.
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NLM Title: Behavioral economics, classical economics, public policy, politics, and health [electronic resource] / George Loewenstein.
Series: BSSR lecture series.
Author: Loewenstein, George.
National Institutes of Health (U.S.)
Publisher:
Other Title(s): BSSR lecture series.
Abstract: (CIT): Behavioral economics has enjoyed an expanding influence on policy, offering novel solutions to problems, including many involving health, that traditional economics, with its assumption of rational choice, often fails to even acknowledge. I will review the rationale for and tools of behavioral economics, in the process discussing several of my own field experiments evaluating novel behavioral interventions in the domain of health. However, I will also raise a variety of issues that need to be confronted for behavioral economics to have a continuing, constructive, influence on policy. We lack key evidence on the long-term consequences and potential unintended side-effects of behavioral interventions, and have not adequately thought through some of the ethical and practical considerations incumbent in many behaviorally informed policies. My broad conclusion will be that behavioral economics provides many useful tools and approaches, but can potentially play a negative role if it substitutes for, rather than complements, the types of policies favored by traditional economics.
Subjects: Choice Behavior
Economics, Medical
Health Behavior
Health Policy
Insurance, Health--economics
Motivation
United States
Publication Types: Lectures
Webcasts
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Caption Text: Download Caption File
NLM Classification: W 74 AA1
NLM ID: 101571678
CIT Live ID: 10625
Permanent link: http://videocast.nih.gov/launch.asp?16889