Bioethics Blogs

Debates About the Use of Behavioral Economics in India

India EconHere is the start of a great essay exploring the promise of using behavioral economics in India to promote social goals. Thought you might want to see it.

In his book ‘The Theory of Moral Sentiments’, Adam Smith wrote: “How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it except the pleasure of seeing it.” What he wrote in 1759 can be traced as the foundation of behavioural economics, a field that lies at the cusp of psychology and economics. A wide set of our choices are driven and limited by our cognitive ability, attention and motivation. We all are habitué in missing the deadlines; we get impatient and often procrastinate. Over the last decade or so, these behavioural aspects of human behaviour have been incorporated into mainstream economics. Insights from behavioural economics can help us answer several important questions. They can help us understand why attendance rates remain low in schools (often because of poor course design), why some people choose to defecate in the open (often because they find toilets disgusting), how farmers are slow to adopt a new useful technology (often because there may not be enough know-how about this new machine or equipment).Read more at: http://www.livemint.com/Opinion/3wt5jLwXypkr5gZZGKS5vN/The-science-of-human-behaviour-and-modern-policymaking.html?utm_source=copy
In his book ‘The Theory of Moral Sentiments’, Adam Smith wrote: “How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it except the pleasure of seeing it.” What he wrote in 1759 can be traced as the foundation of behavioural economics, a field that lies at the cusp of psychology and economics.

The views, opinions and positions expressed by these authors and blogs are theirs and do not necessarily represent that of the Bioethics Research Library and Kennedy Institute of Ethics or Georgetown University.