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Libertarian Paternalism
Libertarian paternalism is the idea that it is both possible and legitimate for private and public institutions to affect behavior while also respecting freedom of choice, as well as the implementation of that idea. The term was coined by behavioral economist Richard Thaler and legal scholar Cass Sunstein in a 2003 article in the ''American Economic Review''. The authors further elaborated upon their ideas in a more in-depth article published in the ''University of Chicago Law Review'' that same year. They propose that libertarian paternalism is paternalism in the sense that "it tries to influence choices in a way that will make choosers better off, as judged by themselves" (p. 5); note and consider, the concept paternalism specifically requires a restriction of choice. It is libertarian in the sense that it aims to ensure that "people should be free to opt out of specified arrangements if they choose to do so" (p. 1161). The possibility to opt out is said to "preserve freedom of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Thaler
Richard H. Thaler (; born September 12, 1945) is an American economist and the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. In 2015, Thaler was president of the American Economic Association. Thaler is a theorist in behavioral economics who has collaborated with Daniel Kahneman, Amos Tversky, and others in further defining that field. In 2018, he was elected a member in the National Academy of Sciences. In 2017, he was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics. In its Nobel prize announcement, the Royal Swedish Academy of Sciences stated that his "contributions have built a bridge between the economic and psychological analyses of individual decision-making. His empirical findings and theoretical insights have been instrumental in creating the new and rapidly expanding field of behavioral economics." Personal life Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Behavioral Economics
Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the decisions of individuals or institutions, such as how those decisions vary from those implied by classical economic theory. Behavioral economics is primarily concerned with the bounds of rationality of economic agents. Behavioral models typically integrate insights from psychology, neuroscience and microeconomic theory. The study of behavioral economics includes how market decisions are made and the mechanisms that drive public opinion. The concepts used in behavioral economics today can be traced back to 18th-century economists, such as Adam Smith, who deliberated how the economic behavior of individuals could be influenced by their desires. The status of behavioral economics as a subfield of economics is a fairly recent development; the breakthroughs that laid the foundation for it were published through the last three decades of the 20th century. Behavio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Theories
Political philosophy or political theory is the philosophical study of government, addressing questions about the nature, scope, and legitimacy of public agents and institutions and the relationships between them. Its topics include politics, liberty, justice, property, rights, law, and the enforcement of laws by authority: what they are, if they are needed, what makes a government legitimate, what rights and freedoms it should protect, what form it should take, what the law is, and what duties citizens owe to a legitimate government, if any, and when it may be legitimately overthrown, if ever. Political theory also engages questions of a broader scope, tackling the political nature of phenomena and categories such as identity, culture, sexuality, race, wealth, human-nonhuman relations, ethics, religion, and more. Political science, the scientific study of politics, is generally used in the singular, but in French and Spanish the plural (''sciences politiques'' and ''cienci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Libertarian Terms
Libertarianism (from french: libertaire, "libertarian"; from la, libertas, "freedom") is a political philosophy that upholds liberty as a core value. Libertarians seek to maximize autonomy and political freedom, and minimize the state's encroachment on and violations of individual liberties; emphasizing the rule of law, pluralism, cosmopolitanism, cooperation, civil and political rights, bodily autonomy, free association, free trade, freedom of expression, freedom of choice, freedom of movement, individualism and voluntary association. Libertarians are often skeptical of or opposed to authority, state power, warfare, militarism and nationalism, but some libertarians diverge on the scope of their opposition to existing economic and political systems. Various schools of Libertarian thought offer a range of views regarding the legitimate functions of state and private power, often calling for the restriction or dissolution of coercive social institutions. Different categorizat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Libertarianism
Libertarianism (from french: libertaire, "libertarian"; from la, libertas, "freedom") is a political philosophy that upholds liberty as a core value. Libertarians seek to maximize autonomy and political freedom, and minimize the state's encroachment on and violations of individual liberties; emphasizing the rule of law, pluralism, cosmopolitanism, cooperation, civil and political rights, bodily autonomy, free association, free trade, freedom of expression, freedom of choice, freedom of movement, individualism and voluntary association. Libertarians are often skeptical of or opposed to authority, state power, warfare, militarism and nationalism, but some libertarians diverge on the scope of their opposition to existing economic and political systems. Various schools of Libertarian thought offer a range of views regarding the legitimate functions of state and private power, often calling for the restriction or dissolution of coercive social institutions. Different categori ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cass R
Cass may refer to: People and fictional characters * Cass (surname), a list of people * Cass (given name), a list of people and fictional characters * Big Cass, ring name of wrestler William Morrissey * Cass, in British band Skunk Anansie * Cass, British singer, artist name of Brian Casser * Henri Cassini (1781–1832), French botanist, standard author abbreviation "Cass." * Kevin Cassidy (born 1981), Gaelic footballer often referred to as "Cass" Places United States * Cass, Indiana, an unincorporated community * Cass, West Virginia, a census-designated place ** Cass Scenic Railroad State Park, in West Virginia * Cass County (other) * Bartow County, Georgia, formerly Cass County * Cass Township (other) * Fort Cass, in present-day Tennessee, 19th century US Army fortification New Zealand * Cass, New Zealand, a locality Greenland * Cass Fjord Multiple countries * Cass Lake (other) * Cass River (other) Schools * Cass Business School, London * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Choice
In public choice theory, tax choice (sometimes called taxpayer sovereignty, earmarking, or fiscal subsidiarity) is the belief that individual taxpayers should have direct control over how their taxes are spent. Its proponents apply the theory of consumer choice to public finance. They claim taxpayers react positively when they are allowed to allocate portions of their taxes to specific spending. Tax relationship between the state and taxpayers The term tax sovereignty emphasizes the perceived equal status of state and taxpayer, instead of the traditional view of the dominant position of the state in taxation. Tracing back to the legitimacy of the state, Viktoria Raritska points out that “the legitimacy of the state as a formal institution is substantiated by the people’s refusal of their freedoms and an agreement to submit to government in exchange for the protection of their guaranteed rights”. Proponents of tax sovereignty believe that in a traditional system of taxatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Cognitive Biases
Cognitive biases are systematic patterns of deviation from norm and/or rationality in judgment. They are often studied in psychology, sociology and behavioral economics. Although the reality of most of these biases is confirmed by reproducible research, there are often controversies about how to classify these biases or how to explain them. Several theoretical causes are known for some cognitive biases, which provides a classification of biases by their common generative mechanism (such as noisy information-processingMartin Hilbert (2012) "Toward a synthesis of cognitive biases: How noisy information processing can bias human decision making"'. Psychological Bulletin, 138(2), 211–237; free access to the study here: https://www.martinhilbert.net/toward-a-synthesis-of-cognitive-biases/). Gerd Gigerenzer has criticized the framing of cognitive biases as errors in judgment, and favors interpreting them as arising from rational deviations from logical thought. Explanations include ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Choice Architecture
Choice architecture is the design of different ways in which choices can be presented to decision makers, and the impact of that presentation on decision-making. For example, each of the following: * the number of choices presented * the manner in which attributes are described * the presence of a "default" can influence consumer choice. As a result, advocates of libertarian paternalism and asymmetric paternalism have endorsed the deliberate design of choice architecture to nudge consumers toward personally and socially desirable behaviors like saving for retirement, choosing healthier foods, or registering as an organ donor. These interventions are often justified in that well-designed choice architectures can compensate for irrational decision-making biases to improve consumer welfare. These techniques have consequently become popular among policymakers, leading to the formation of the UK's Behavioural Insights Team and the White House "Nudge Unit" for example. While man ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coercion
Coercion () is compelling a party to act in an involuntary manner by the use of threats, including threats to use force against a party. It involves a set of forceful actions which violate the free will of an individual in order to induce a desired response. These actions may include extortion, blackmail, or even torture and sexual assault. For example, a bully may demand lunch money from a student where refusal results in the student getting beaten. In common law systems, the act of violating a law while under coercion is codified as a duress crime. Coercion can be used as leverage to force the victim to act in a way contrary to their own interests. Coercion can involve not only the infliction of bodily harm, but also psychological abuse (the latter intended to enhance the perceived credibility of the threat). The threat of further harm may also lead to the acquiescence of the person being coerced. The concepts of coercion and persuasion are similar, but various factors ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Procrastination
Procrastination is the action of unnecessarily and voluntarily delaying or postponing something despite knowing that there will be negative consequences for doing so. The word has originated from the Latin word ''procrastinatus'', which itself evolved from the prefix ''pro-'', meaning "forward," and ''crastinus'', meaning "of tomorrow." Oftentimes, it is a habitual human behaviour. It is a common human experience involving delay in everyday chores or even putting off salient tasks such as attending an appointment, submitting a job report or academic assignment, or broaching a stressful issue with a partner. Although typically perceived as a negative trait due to its hindering effect on one's productivity often associated with depression, low self-esteem, guilt and inadequacy, it can also be considered a wise response to certain demands that could present risky or negative outcomes or require waiting for new information to arrive. From a cultural and a social perspective, studen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Status Quo Bias
Status quo bias is an emotional bias; a preference for the maintenance of one's current or previous state of affairs, or a preference to not undertake any action to change this current or previous state. The current baseline (or status quo) is taken as a reference point, and any change from that baseline is perceived as a loss or gain. Corresponding to different alternatives, this current baseline or default option is perceived and evaluated by individuals as a positive. Status quo bias should be distinguished from a rational preference for the status quo ante, as when the current state of affairs is objectively superior to the available alternatives, or when imperfect information is a significant problem. A large body of evidence, however, shows that status quo bias frequently affects human decision-making. Status quo bias should also be distinguished from psychological inertia, which refers to a lack of intervention in the current course of affairs. The bias intersects with oth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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