"Small Miracles" --Behavioral Insights to Improve Development Policy
One of the most fruitful advances in modern economics has been the introduction of psychological realism into the model of "economic man." The World Development Report 2015 organizes the evidence about how humans actually think and make d...
| Main Authors: | , |
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| Format: | Publications & Research |
| Language: | English en_US |
| Published: |
World Bank Group, Washington, DC
2015
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2015/02/24021435/small-miracles-behavioral-insights-improve-development-policy-world-development-report-2015 http://hdl.handle.net/10986/21592 |
| Summary: | One of the most fruitful advances in
modern economics has been the introduction of psychological
realism into the model of "economic man." The
World Development Report 2015 organizes the evidence about
how humans actually think and make decisions into a coherent
framework useful for designing development policy. This
paper elaborates on the three principles of human thinking
that constitute the report's intellectual framework:
Human thinking is dual process -- automatic as well as
deliberative (thinking automatically); it is conditioned by
social context and the salience of social identities
(thinking socially); and it is shaped by mental models that
are socially constructed (thinking with mental models).
Behavioral insights create scope for policy interventions
that produce "miracles" from the perspective of
traditional economics. |
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