Behavioral Economics Commons^™

Behavioral Economics Y Políticas Públicas: Algunos Problemas Y Sus Soluciones / Behavioral Economics And Public Policies: Some Problems And Their Solutions [En Español], Daniel A. Monroy

Daniel A Monroy C

Abstract

The main target of this paper is to show a behavioral economics approach to –some– public policies from a descriptive and a normative point of view. To meet the target, (i) the paper summarizes two cognitive biases: the status quo bias and the endowment effect, and then shows how these biases could affect the effectiveness of public policies in some relevant contexts: the availability of human organs for transplantation; people's bad eating habits; and environmental resources management. In addition, (ii) the paper suggests some strategies (nudges) about how behavioral economics could inform policy maker to design or to improve …

Más Vale Malo Conocido Que…: El Efecto Dotación Y Los Pronósticos Teóricos Del Teorema De Coase, Daniel Monroy

Daniel A Monroy C

Some studies of the "endowment effect" in behavioral economics have criticized the theoretical prediction of the Coase Theorem even in its most basic formulation. This document describes the evidence of the existence of this "anomaly" in individual decision-making in various contexts in order to determine the possible general implications of this effect in the economic analysis itself especially as an explanation for the sometimes, insuperable gap between the willingness to accept for giving a right and the correlative willingness to pay to get it, also the paper describes a contradiction with the assumption of reversibility of preferences at any dot …