Behavioural Economics and Regulation: The Design Process of Regulatory Nudges

Nudges are small changes in individual choice architecture that can be used to address various problems, but the translation of ideas into regulation is complex. This book proposes an alternative design process more in tune with the reality of regulation, analyzing experimental alternatives and a real-world example. It is crucial for researchers and policy-makers interested in incorporating nudging into regulation and the implications of behavioural economics for regulatory design.

Format: Hardback
Length: 214 pages
Publication date: 08 September 2022
Publisher: Taylor & Francis Ltd

In recent years, the concept of nudges, which refers to subtle changes in the design of individual choices that do not involve incentives or coercion, has gained significant attention in policy discourse and practice. These nudges are aimed at addressing a wide range of problems, from energy consumption to retirement savings. While the idea of nudges has been widely embraced, there remains a need to explore how they can be effectively incorporated into regulatory practice and whether the experimental methodologies used to design nudges are still appropriate when used as a regulatory instrument.

This book aims to address these challenges by examining the translation of ideas into the world of regulation. It provides a comprehensive analysis of the different experimental alternatives that regulators can use when designing nudges and conducts a close analysis of a real-world example, the case of the European Union tobacco warnings. Through this analysis, the book proposes an alternative design process that is more in tune with the realities of regulation.

The book explores the implications of iterative experimental methodologies and processes for regulators, concluding with a call for an alternative nudgings design process tailored to the regulatory space. This book is of utmost importance for researchers and policy-makers interested in incorporating nudging into regulation and for anyone interested in the implications of behavioural economics – and evidence more generally – for regulatory design.

In conclusion, this book offers valuable insights into the challenges and opportunities of incorporating nudges into regulatory practice. By proposing an alternative design process that is more aligned with the realities of regulation, it provides a valuable contribution to the field of behavioural economics and regulatory design.

Weight: 590g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032077215