Behavioral insights can be applied to public policy from "summary" of Misbehaving by Richard H Thaler
The idea that behavioral insights can inform public policy is a relatively new concept. Traditionally, policymakers have assumed that people behave rationally and make decisions based on careful analysis of all available information. However, behavioral economics has shown that this is not always the case. People often make decisions based on biases and heuristics, which can lead to suboptimal outcomes. By incorporating insights from behavioral economics into public policy, policymakers can design more effective interventions that take into account how people actually behave. For example, instead of assuming that people will save for retirement on their own, policymakers can use insights from behavioral economics to design defa...
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