Behavioural Economics

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Assignment details Behavioural Economics (2210)
ECON1339 Behavioural Economics Assessment name: Assessment Task 3: Behavioural Case Studies Details:
Please answer four out of the following five case studies. Each case study is worth a total of 12.5 marks. If you answer all five case studies, only the first four will be marked.
Case 1. Using Experiments for Evidence-Based Policy Design
Controlled lab or field experiments powerful tools are powerful tools frequently used in Behavioural Economics. Experiments can be used to determine the effect of different forces in complex situations and to inform policy. Describe how experiments can be used to test a new policy idea, making sure to include your recommendations to the Government or organisation involved. Explain the common criticisms of experiments.
Case 2. Bounded Rationality
Explain the insights provided by Bounded Rationality into human decision making. Give examples of (1) the anchoring effect (2) availability effect (3) framing effect and (4) social norm. How are these heuristics relevant to pro-environmental behaviour?
Case 3. Changing Behaviour
Nudging has been shown to affect behaviour in a wide variety of settings. Provide some real-life examples of using nudging to 1) improve compliance and 2) promote pro-social behaviour and discuss why you think these work. Describe any ethical issues and limitations that might arise from your examples.
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