Using behavioural economics in development policy [1]

Insights from behavioural economics are being used more and more in developing country settings. In this VoxDev talk, Michael Kremer and Gautam Rao from Harvard University, discuss their chapter in the 2019 edition of The Handbook of Behavioural Economics, which looks at the important implications of tendencies, such as present bias and loss aversion, when making economic decisions in every day life. The consequences of these choices tend to be amplified in developing countries due to the high rate of self-employed workers, making behavioural development economics a critical and growing field.    

Standfirst: 
Can the burgeoning field of behavioural economics provide important insights into development issues?
Interviewee: 
michaelkremer0 [2]
gautamrao0 [3]
Date Published: 
Wednesday, January 29, 2020
Tags: 
Behavioural economics [4]
rationality [5]
Present bias [6]
Self-employment [7]
Policy formulation [8]
returns to capital [9]
saving [10]
loss aversion [11]
Cover Image: 
Topic: 
Macroeconomics & Growth [12]
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Can climate change make us antisocial? [14]
Old habits die hard: Nutrition in India [15]
What does the 2019 Nobel mean for development economics? [16]
Alleviating poverty with experimental research: The 2019 Nobel laureates [17]
Audio File: 
Audio icon Behavoiral development econ 2.mp3 [18]
Photo Credit: 
TAO/flickr