Benefits of Behavioral Economic Policy
Cost-Effectiveness: Nudges and other behavioral interventions are often more cost-effective than traditional regulations or incentives because they typically require less enforcement and administration.
Preservation of Choice: Unlike mandates or bans, behavioral policies usually preserve freedom of choice, making them more politically palatable and less intrusive.
Real-World Impact: By designing policies that reflect how people actually behave, rather than how they are theoretically supposed to behave, these policies are more likely to achieve their intended outcomes.
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