Behaviour and Biases: Implications for the Government as Choice Architect
Tilburg University, NL
Henriëtte Prast is Professor of Personal Financial Planning in the Faculty of Economics and Business Administration and Council Member of the Scientific Council for Government Policy. Together with the project team ‘Choice, Behaviour and Policy’ they are preparing an advisory report to Dutch Government on the possibilities and limitations of influencing behaviour.
Casper Thomas is employed as research fellow. Together with the project team "Choice, Behaviour and Policy" Casper Thomas and Henriëtte Prast are preparing an advisory report to Dutch Government on the possibilities and limitations of influencing behaviour.
This article discusses various findings regarding behavioural economics in the context of their implications for policy aimed at affecting individual behaviour. In doing so, it examines the role of technology. How does technology interfere with psychological biases in behaviour, and how could it be used in mitigating the adverse consequences of these biases? Our conclusion is that while in some areas of decision-making, technology makes dealing with behavioral biases more difficult, it can also be used to support a policy aimed at reducing these biases.