Found 66 article(s) for author 'Cass Sunstein'

Financial Regulation and Cost-Benefit Analysis

Financial Regulation and Cost-Benefit Analysis. Cass Sunstein, January 22, 2015, Paper. “Cost-benefit analysis is best understood as a way for agencies to ensure that their decisions are informed—that they are based on knowledge about likely consequences, rather than on dogmas, intuitions, hunches, or interest-group pressures. But when agencies lack that knowledge, and cannot obtain it, cost benefit analysis runs into an evident objection. It is tempting to think that financial regulation in particular should not be subjected to cost-benefit analysis, because the problem of insufficient knowledge is pervasive in…” Link

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Behavioural Economics, Consumption and Environmental Protection

Behavioural Economics, Consumption and Environmental Protection. Cass Sunstein, 2015, Book Chapter. “In this chapter, one of the founding fathers of behavioral economics, Cass R. Sunstein, explains how behavioral economics, consumption and the environment can cooperate for the purpose of sustainable consumption. For a long time behavioral economists have shown that consumers may disregard the long term, display unrealistic optimism, ignore shrouded attributes, procrastinate, make mistaken judgments about probability, and suffer from ‘internalities’ that occur when people make decisions…Link

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Nudging: A Very Short Guide

Nudging: A Very Short Guide, Cass Sunstein, November 2014, Paper. “This brief essay offers a general introduction to the idea of nudging, along with a list of ten of the most important “nudges.” It also provides a short discussion of the question whether to create some kind of separate “behavioral insights unit,” capable of conducting its own research, or instead to rely on existing institutions…” Link

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Choosing Not to Choose

Choosing Not to Choose. Cass Sunstein, October 2014, Article. “Choice can be an extraordinary benefit or an immense burden. In some contexts, people choose not to choose, or would do so if they were asked. In part because of limitations of “bandwidth,” and in part because of awareness of their own lack of information and potential biases, people sometimes want other people to choose for them. For example, many people prefer not to make choices about their health or retirement plans; they want to delegate those choices to a private or public institution that they trust…” Link

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How to Deregulate Cities and States

How to Deregulate Cities and States. Edward Glaeser, Cass Sunstein, August 24, 2014, Opinion. “A lot of attention has been devoted in recent years to overregulation at the national level. For many people, though, the regulations that hit hardest come from states and localities. The story of Uber’s fight with overzealous local regulators is only a well-publicized tip of the iceberg. A 2012 study conducted by the Institute for Justice finds that 102 trades and occupations now face licensing requirements in states or cities. The people who suffer most from them are those without a lot of money or advanced education…” Link

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How to Deregulate Cities and States; Cost-benefit analysis and ‘lookbacks’ could lift the unnecessary burdens of occupational licensing.

How to Deregulate Cities and States; Cost-benefit analysis and ‘lookbacks’ could lift the unnecessary burdens of occupational licensing. Edward Glaeser, Cass Sunstein, August 24, 2014, Opinion. “To engage in the gentle arts of design, hair cutting, beauty treatment and tree trimming, should people really be required to run some kind of regulatory gauntlet? A widely overlooked part of Paul Ryan’s antipoverty plan draws attention to the problem of occupational licensing, and it rightly calls on states and local governments “to begin to dismantle these barriers to upward mobility…” Link

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Officials Have a Right to Procrastinate: Cass Sunstein (Correct)

Officials Have a Right to Procrastinate: Cass Sunstein (Correct). Cass Sunstein, June 10, 2014, Opinion. “There are all sorts of things people want the federal government to do — for example, reduce poverty, make highways safer, protect against workplace risks, safeguard privacy online, regulate their least favorite companies or, for that matter, engage in deregulation. Under both Democratic and Republican administrations, federal officials often answer: “Not now.”…” May require purchase or user account. Link verified August 21, 2014

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Why worry about inequality?

Why worry about inequality? Cass Sunstein, May 15, 2014, Opinion. “Thomas Piketty’s improbable best-seller, “Capital in the Twenty-First Century,” has put that question in sharp relief. As just about everyone now knows, Piketty contends that over the next century, inequality is likely to grow. In response, he outlines a series of policies designed to reduce wealth at the very top of society, including a progressive income tax and a global wealth tax…” Link verified June 19, 2014

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The Regulatory Lookback

The Regulatory Lookback. Cass Sunstein, May 2014, Article. “Technocratic judgments can have a cooling function. An insistent focus on the facts, and on the likely consequences of policies, might soften political divisions and produce consensus. Within the federal government, cost-benefit analysis is a prominent example of the cooling function of technocracy. But when undertaken prospectively, such analysis is sometimes speculative and can be error prone. Moreover, circumstances sometimes change, sometimes in unanticipated ways…” Link

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The Limits of Quantification

The Limits of Quantification. Cass Sunstein, April 14, 2014, Paper. “The difficulty of quantifying benefits and costs is a recurrent one in both public policy and ordinary life. Much of the time, we cannot quantify the benefits of potential courses of action, or the costs, or both, and we must nonetheless decide whether and how to proceed. Under existing executive orders, agencies are generally required to quantify both benefits and costs, and (to the extent permitted by law) to show that the former justify the latter. But agencies are also permitted to consider factors that are difficult or impossible to quantify, such as human dignity and fairness, and also to consider factors that are not quantifiable because of the limits of existing knowledge…Link

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