Document Type

Book Chapter

Publication Date

2023

Publication Information

in Law and Economics in all seinen Facetten: Festschrift zu Ehren von Klaus Mathis 45 (Peter Nobel et al. eds., 2023).

Abstract

Law and Economics in All His Facets: Festschrift in Honour of Klaus Mathis

Only a small portion of the substantial literature on behavioral interventions ("nudges") that developed over the last fifteen to twenty years has considered nudges from an economic perspective. Moreover, despite the importance of the topic for a law and economics assessment of this increasingly common form of regulation, even fewer contributions have examined whether and when behavioral instruments are likely to make an efficient means for increasing social welfare. This chapter therefore offers some basic observations about nudge efficiency: Part I opens with a reminder that behavioral instruments should be implemented only when they are the most efficient means available for advancing a given policy goal. Part II then offers a brief review of typical nudge benefits and costs that policymakers need to account for when assessing the efficiency of behavioral interventions, while Part III describes recent studies that assess the efficiency of nudges and the lessons they offer so far.

Part of the book Law and Economics in All His Facets: Festschrift in Honour of Klaus Mathis

Series: Schriften zur Rechtstheorie, vol. 309

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