Why policy makers and social scientists should be adopting behavioral economics? An analysis for the period 2000-2020.

Abstract

This paper presents three analysis concerning the relevance of Behavioral Economics (BE). First, to evaluate its academic relevance, we analyze the impact of BE contributions in some of the main scientific databases. Second, to recognize the level of implementation, we analyze the reports published by international organizations and the so-called Behavioral Insight Units (nudge units). And third, to validate BE as a distinctive approach, we compare eight recognized scientific papers. As conclusion, although there is a remarkable consolidation of BE as academic discipline, the applied reach of BE is still limited since only seven countries show its comprehensive implementation.

Keywords

• Behavioral economics, nudge unit, cognitive bias, bounded rationality, methodological framework; economic doctrines