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How behavioral decision research can enhance consumer welfare: From freedom of choice to paternalistic intervention

Publication ,  Conference
Ratner, RK; Soman, D; Zauberman, G; Ariely, D; Carmon, Z; Keller, PA; Kim, BK; Lin, F; Malkoc, S; Small, DA; Wertenbroch, K
Published in: Marketing Letters
December 1, 2008

Decision-making researchers have largely focused on showing errors and biases in consumers' decision-making processes without paying much attention to the social welfare and policy implications of these systematic behaviors. In this paper, we explore how findings and methods in behavioral decision research can be used to help consumers improve their decision making and enhance their well-being. We first review select findings in behavioral decision research to explain why consumers need help in decisions, and based on these findings, suggest various interventions that could be effective within the scope of libertarian paternalism. Ethics and effectiveness of the interventions are also discussed. © 2008 Springer Science+Business Media, LLC.

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Published In

Marketing Letters

DOI

ISSN

0923-0645

Publication Date

December 1, 2008

Volume

19

Issue

3-4

Start / End Page

383 / 397

Related Subject Headings

  • Marketing
  • 3506 Marketing
  • 1505 Marketing
 

Citation

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Ratner, R. K., Soman, D., Zauberman, G., Ariely, D., Carmon, Z., Keller, P. A., … Wertenbroch, K. (2008). How behavioral decision research can enhance consumer welfare: From freedom of choice to paternalistic intervention. In Marketing Letters (Vol. 19, pp. 383–397). https://doi.org/10.1007/s11002-008-9044-3
Ratner, R. K., D. Soman, G. Zauberman, D. Ariely, Z. Carmon, P. A. Keller, B. K. Kim, et al. “How behavioral decision research can enhance consumer welfare: From freedom of choice to paternalistic intervention.” In Marketing Letters, 19:383–97, 2008. https://doi.org/10.1007/s11002-008-9044-3.
Ratner RK, Soman D, Zauberman G, Ariely D, Carmon Z, Keller PA, et al. How behavioral decision research can enhance consumer welfare: From freedom of choice to paternalistic intervention. In: Marketing Letters. 2008. p. 383–97.
Ratner, R. K., et al. “How behavioral decision research can enhance consumer welfare: From freedom of choice to paternalistic intervention.” Marketing Letters, vol. 19, no. 3–4, 2008, pp. 383–97. Scopus, doi:10.1007/s11002-008-9044-3.
Ratner RK, Soman D, Zauberman G, Ariely D, Carmon Z, Keller PA, Kim BK, Lin F, Malkoc S, Small DA, Wertenbroch K. How behavioral decision research can enhance consumer welfare: From freedom of choice to paternalistic intervention. Marketing Letters. 2008. p. 383–397.
Journal cover image

Published In

Marketing Letters

DOI

ISSN

0923-0645

Publication Date

December 1, 2008

Volume

19

Issue

3-4

Start / End Page

383 / 397

Related Subject Headings

  • Marketing
  • 3506 Marketing
  • 1505 Marketing