CREED Research Seminar: ESCAPING PATERNALISM: Rationality, Behavioral Economics and Public Policy with Professor Mario Rizzo

This seminar is hosted by the Centre for Regional Economic and Enterprise Development (CREED) research division at Sheffield University Management School.


Abstract

The burgeoning field of behavioral economics has produced a new set of justifications for paternalism. This book challenges behavioral paternalism on multiple levels, from the abstract and conceptual to the pragmatic and applied. Behavioral paternalism relies on a needlessly restrictive definition of rational behavior. It neglects nonstandard preferences, experimentation, and self-discovery. It relies on behavioral research that is often incomplete and unreliable. It demands a level of knowledge from policymakers that they cannot reasonably obtain. It assumes a political process largely immune to the effects of ignorance, irrationality, and the influence of special interests and
moralists. Overall, behavioral paternalism underestimates the capacity of people to solve their own problems, while overestimating the ability of experts and policymakers to design beneficial interventions. The authors argue instead
for a more inclusive theory of rationality in policymaking


Programme

13.00 - 14.00 A light lunch will be served in the courtyard cafe (Level C)

14.00 - 16.00 Talk takes place in the Executivce Boardroom (Level D)

Event Details

When: March 17, 2020 at 1:00pm—4:00pm

Where: Sheffield University Management School Conduit Road, Sheffield, S10 1FL

Type: Alumni, Student, Business

Book Event