|
|||||||||||||||
|
INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
||||||||||||||
Issue: May 2024
Volume 9 | Issue 5
Review Result and Publication of Paper within : 2-3 days
Click Here For more DetailsFor Authors
Forms / Download
Published Issue Details
Editorial Board
Other IMP Links
Facts & Figure
Impact Factor : 8.76
Issue per Year : 12
Volume Published : 9
Issue Published : 96
Article Submitted :
Article Published :
Total Authors :
Total Reviewer :
Total Countries :
Indexing Partner
Join RMS/Earn 300
Licence
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
|
Published Paper Details
|
|
| Paper Title: | Reevaluating Rationality: Exploring the Impact of Behavioral Economics on Policy Design and Implementation |
| Authors Name: | Siya Thakur |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJNRD_204717
|
| Published Paper Id: | IJNRD2309113 |
| Published In: | Volume 8 Issue 9, September-2023 |
| DOI: | |
| Abstract: | Traditional economic models have long operated under the premise of rational decision-making by individuals consequently overlooking the complex interplay of human psychology in decision-making processes. On the other hand, behavioural economics, takes into consideration heuristics, biases, as well as the effective use of nudges. This research paper explores the extent to which behavioural economics is able to challenge the long-standing assumption of rationality in the context of policy design and implementation. The aforementioned is facilitated by a comprehensive literature review of the foundations of rationality that presents itself in traditional economics and its models and theories, Following this, an introduction to behavioural economics is presented with a specific focus on highlighting its ability to acknowledge and further integrate psychological phenomena into economic analysis. The latter half of this paper delves into the practical application of behavioural economics in policy-making and implementation and also evaluates real-life examples wherein this framework has been effectively employed. The paper ultimately concludes that behavioural economics does challenge the assumption of rationality in policy design and implementation to a great extent, however, it does not represent a replacement for rationality altogether. Instead, policymakers may implement an integrated approach whereby the strengths of both principles are leveraged to achieve desired policy outcomes. |
| Keywords: | Key Words: Behavioral Economics, Rationality, Heuristics, Biases, Nudge theory, Policy design, Policy implementation |
| Cite Article: | "Reevaluating Rationality: Exploring the Impact of Behavioral Economics on Policy Design and Implementation", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 9, page no.b120-b131, September-2023, Available :http://www.ijnrd.org/papers/IJNRD2309113.pdf |
| Downloads: | 000118760 |
| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
| Publication Details: |
Published Paper ID:IJNRD2309113 Registration ID: 204717 Published In: Volume 8 Issue 9, September-2023 DOI (Digital Object Identifier): Page No: b120-b131 Country: Noida, Uttar Pradesh, India Research Area: Social Science and Humanities Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2309113 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2309113 |
| Share Article: |
|
|
Click Here to Download This Article |
|
| Article Preview | |
|
|
|
Major Indexing from www.ijnrd.org
| Semantic Scholar | Microsaoft Academic | ORCID | Zenodo |
| Google Scholar | ResearcherID Thomson Reuters | Mendeley : reference manager | Academia.edu |
| arXiv.org : cornell university library | Research Gate | CiteSeerX | PUBLON |
| DRJI | SSRN | Scribd | DocStoc |
ISSN Details
 |
 |
|
ISSN: 2456-4184
Impact Factor: 8.76 and ISSN APPROVED
Journal Starting Year (ESTD) : 2016
DOI (A digital object identifier)
Conference
Open Access License Policy
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Important Details
Social Media
Licence
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Join RMS/Earn 300
| Copyright © 2024 - All Rights Reserved - IJNRD |
Facebook Twitter Instagram LinkedIn