Behavioral Public Finance

preview-18
  • Behavioral Public Finance Book Detail

  • Author : Edward J. McCaffery
  • Release Date : 2006-01-23
  • Publisher : Russell Sage Foundation
  • Genre : Business & Economics
  • Pages : 412
  • ISBN 13 : 1610443853
  • File Size : 54,54 MB

Behavioral Public Finance by Edward J. McCaffery PDF Summary

Book Description: Behavioral economics questions the basic underpinnings of economic theory, showing that people often do not act consistently in their own self-interest when making economic decisions. While these findings have important theoretical implications, they also provide a new lens for examining public policies, such as taxation, public spending, and the provision of adequate pensions. How can people be encouraged to save adequately for retirement when evidence shows that they tend to spend their money as soon as they can? Would closer monitoring of income tax returns lead to more honest taxpayers or a more distrustful, uncooperative citizenry? Behavioral Public Finance, edited by Edward McCaffery and Joel Slemrod, applies the principles of behavioral economics to government's role in constructing economic and social policies of these kinds and suggests that programs crafted with rational participants in mind may require redesign. Behavioral Public Finance looks at several facets of economic life and asks how behavioral research can increase public welfare. Deborah A. Small, George Loewenstein, and Jeff Strnad note that public support for a tax often depends not only on who bears its burdens, but also on how the tax is framed. For example, people tend to prefer corporate taxes over sales taxes, even though the cost of both is eventually extracted from the consumer. James J. Choi, David Laibson, Brigitte C. Madrian, and Andrew Metrick assess the impact of several different features of 401(k) plans on employee savings behavior. They find that when employees are automatically enrolled in a retirement savings plan, they overwhelmingly accept the status quo and continue participating, while employees without automatic enrollment typically take over a year to join the saving plan. Behavioral Public Finance also looks at taxpayer compliance. While the classic economic model suggests that the low rate of IRS audits means far fewer people should voluntarily pay their taxes than actually do, John Cullis, Philip Jones, and Alan Lewis present new research showing that many people do not underreport their incomes even when the probability of getting caught is a mere one percent. Human beings are not always rational, utility-maximizing economic agents. Behavioral economics has shown how human behavior departs from the assumptions made by generations of economists. Now, Behavioral Public Finance brings the insights of behavioral economics to analysis of policies that affect us all.

Disclaimer: www.yourbookbest.com does not own Behavioral Public Finance books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

Behavioral Public Finance

Behavioral Public Finance

File Size : 58,58 MB
Total View : 3963 Views
DOWNLOAD

Behavioral economics questions the basic underpinnings of economic theory, showing that people often do not act consistently in their own self-interest when mak

Behavioural Public Finance

Behavioural Public Finance

File Size : 52,52 MB
Total View : 2549 Views
DOWNLOAD

This book tackles political, social, and behavioural aspects of public finance and fiscal exchange. The book combines conventional approaches toward public fina

Policy and Choice

Policy and Choice

File Size : 88,88 MB
Total View : 1107 Views
DOWNLOAD

Argues that public finance--the study of the government's role in economics--should incorporate principles from behavior economics and other branches of psychol

Policy and Choice

Policy and Choice

File Size : 17,17 MB
Total View : 1627 Views
DOWNLOAD

Traditional public finance provides a powerful framework for policy analysis, but it relies on a model of human behavior that the new science of behavioral econ

Behavioural Economics and Finance

Behavioural Economics and Finance

File Size : 69,69 MB
Total View : 6524 Views
DOWNLOAD

Standard models in economics and finance usually assume that people are rational, self-interested maximisers, effectively co-ordinated via the invisible hand of