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How Hayekian is Sunstein's behavioral economics?
- 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]
- Subjects :
- BEHAVIORAL economics
NORMATIVE economics
CARBON taxes
WELFARE economics
Subjects
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