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

Automatically Green: Behavioral Economics and Environmental Protection

Automatically Green: Behavioral Economics and Environmental Protection. Cass Sunstein, September 19, 2013, Paper. “Careful attention to choice architecture promises to open up new possibilities for environmental protection – possibilities that go well beyond, and that may be more effective than, the standard tools of economic incentives, mandates, and bans. How, for example, do consumers choose between environmentally-friendly products or services and alternatives that are potentially damaging to the environment but less expensive? The answer may well depend on the default rule. Indeed, green default rules may well be a more effective tool for altering outcomes than large economic incentives. The underlying reasons include the power of suggestion; inertia and procrastination; and loss aversion …” Link

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Nonsectarian Welfare Statements

Nonsectarian Welfare Statements. Cass Sunstein, August 28, 2013, Paper. “How can we measure whether national institutions in general, and regulatory institutions in particular, are dysfunctional? A central question is whether they are helping a nation’s citizens to live good lives. A full answer to that question would require a great deal of philosophical work, but it should be possible to achieve an incompletely theorized agreement on a kind of nonsectarian welfarism, emphasizing the importance of five variables: subjective well-being, longevity, health, educational attainment, and per capita income. In principle, it would be valuable to identify the effects of new initiatives (including regulations) on all of these variables. In practice, it is not feasible to do so; assessments of subjective well-being present particular challenges.” Link

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Why Is U.S. Economic Mobility Worse in the South?

Why Is U.S. Economic Mobility Worse in the South? Cass Sunstein, August 8, 2013, Opinion. “Americans pride themselves on their intergenerational mobility. Our nation’s exceptionalism is organized around the American dream: No matter where you come from and no matter who your parents are, you can rise to the top of the economic ladder, so long as you are willing to commit yourself and work hard…” Link

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Summers’s Critics Distort His Regulatory Views

Summers’s Critics Distort His Regulatory Views. Cass Sunstein, August 6, 2013, Opinion. “A lot of public discussion takes place before the president nominates a new Federal Reserve Board chairman. This time, that discussion has gotten unusually heated. Continuing economic difficulties are one reason. Another is that Lawrence Summers, a top candidate, is a larger-than-life figure — unusually well-known and widely admired, but in some circles controversial. The paradox is that those who know him best, and who have worked with him most closely, are his biggest supporters…” Link

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Regulatory Moneyball

Regulatory Moneyball. Cass Sunstein, June 2013, Opinion. “Chances are that you will never hear a crowd at a protest rally chant, “What do we need? Regulation! When do we need it? Now!” People want safe food, clean air, and clean water. But in the abstract, regulation is never a popular idea. In a tough economic environment, it might seem like a recipe for disaster. In the United States, businesses large and small have long argued that they are subject to excessive red tape and government oversight, and in the context of a serious recession, that concern has become acute…” Link

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The Storrs Lectures: Behavioral Economics and Paternalism

The Storrs Lectures: Behavioral Economics and Paternalism. Cass Sunstein, May 1, 2013, Paper. “A growing body of evidence demonstrates that in some contexts and for identifiable reasons, people make choices that are not in their interest, even when the stakes are high. Policymakers in a number of nations, including the United States and the United Kingdom, have used this evidence to inform regulatory initiatives and choice architecture. Both the resulting actions and the relevant findings have raised the possibility that an understanding of human errors opens greater space for paternalism (and thus raises doubts about John Stuart Mill’s…” Link 

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Cut Global Red Tape to Promote Economic Growth

Cut Global Red Tape to Promote Economic Growth. Cass Sunstein, March 11, 2013, Opinion. “Imagine that you own a small but rapidly growing company in Vermont, and that your products are starting to sell in Maine, New Hampshire and Massachusetts. You would probably hate it if those states forced you to comply with inconsistent and redundant regulatory requirements. Fortunately, the U.S. has a national market. Sure, unnecessary red tape still produces headaches, but the federal system (including the Constitution) sharply limits a state’s power to disrupt the free movement of goods across state lines. Within the U.S., that movement has been a crucial engine of economic growth…” Link

Tags: , , Behavioral Economics and Regulation Behavioral Economics and Regulation. Cass Sunstein, February 1, 2013, Paper. “Behavioral economics is influencing regulatory initiatives in many nations, including the United States and the United Kingdom. The role of behavioral economics is likely to increase in the next generation, especially in light of the growing interest in low-cost, choice-preserving regulatory tools. Choice architecture — including default rules, simplification, norms, and disclosure — can affect outcomes even if material incentives are not involved. For example, default rules can have an even larger effect than significant economic incentives…” Link

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The Value of a Statistical Life: Some Clarifications and Puzzles

The Value of a Statistical Life: Some Clarifications and Puzzles. Cass Sunstein, 2013, Paper. “Many people have wondered why the US government conducts cost-benefit analysis with close reference to the value of a statistical life (VSL). It is helpful to answer that question by reference to the ‘Easy Cases,’ in which those who benefit from regulatory protection must pay for it. In such cases, WTP is usually the right foundation for VSL, because beneficiaries are hardly helped by being forced to pay for regulatory protection that they believe not to be in their interests. In the Easy Cases, arguments from both welfare and..” Link

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21st-Century Regulation: An Update on the President’s Reform

21st-Century Regulation: An Update on the President’s Reform. Cass Sunstein, May 25, 2011, Opinion. “A 21st-century regulatory system must promote economic growth, innovation and job creation while also protecting public health and welfare. Earlier this year, President Obama outlined his plan to create such a system by adopting a simpler, smarter and more cost-effective approach to regulation. As a key part of that plan, he called for an unprecedented government-wide review of regulations already on the books so that we can improve or remove those that are out-of-date, unnecessary, excessively burdensome or in conflict with…” Link

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