How behavioral decision research can enhance consumer welfare: From freedom of choice to paternalistic intervention
Published
Conference Paper
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.
Full Text
Duke Authors
Cited Authors
- Ratner, RK; Soman, D; Zauberman, G; Ariely, D; Carmon, Z; Keller, PA; Kim, BK; Lin, F; Malkoc, S; Small, DA; Wertenbroch, K
Published Date
- December 1, 2008
Published In
Volume / Issue
- 19 / 3-4
Start / End Page
- 383 - 397
International Standard Serial Number (ISSN)
- 0923-0645
Digital Object Identifier (DOI)
- 10.1007/s11002-008-9044-3
Citation Source
- Scopus