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How Hayekian is Sunstein's behavioral economics?

Authors :
Sugden, Robert
Source :
Behavioural Public Policy; Jan2023, Vol. 7 Issue 1, p189-198, 10p
Publication Year :
2023

Abstract

I comment on Sunstein's paper proposing 'Hayekian behavioural economics'. In essence, Sunstein is merely renaming a familiar approach to normative economics, initiated in Sunstein and Thaler's seminal 2003 paper. I argue that this approach cannot fairly be described as in the spirit of Hayek's work. Sunstein's approach is based on a 'constructivist' conception of rationality that Hayek consistently criticized. Although both Hayek and Sunstein address 'knowledge problems', the two problems are fundamentally different. I develop what I claim are truly Hayekian critiques of Sunstein's claim that fuel economy mandates can be more Hayekian than carbon taxes. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
2398063X
Volume :
7
Issue :
1
Database :
Complementary Index
Journal :
Behavioural Public Policy
Publication Type :
Academic Journal
Accession number :
161141329
Full Text :
https://doi.org/10.1017/bpp.2021.11