Behavioural economics Flashcards
(19 cards)
Give some examples of imperfect information
Vapimg
Cigarettes
Unhealthy food
Coffee
Pensions
Give some examples of too much much choice
Cars
skincare
groceries
give some examples of lack of time
Grocery shopping
household bills
Bounded self control
Cigarettes
Alcohol
Excercise
Healthy eating
Altruism
Anonymous charitable giving
contributing to public goods
Accepting lower salaries
saving for children
Rules of thumb/heuristics - emotional decision making
Buying medicine when in pain
buying food when hungry
shopping for clothes or shoes
Rules of thumb/heuristics - repetitive consumption
Barbers
Ordering food
coffee
sugary drinks
Rules of thumb/heuristics - Consumer inertia
Gas/electricity bills
pension
savings
insurance
Gym + Newspaper memberships
Cognitive bias - anchoring
RRP price
Psychological pricing
Museum Donations
Regional house prices
Initial level of interest rate
Cognitive bias - framing
Low fat
low sugar
pay per month/week
Cognitive bias - availability bias
Smoking
Lottery (gambling)
Cognitive bias - social norms
Seatbelts
Drunk driving
Tipping
Vaccinations
Covid actions (masks etc)
Cognitive bias - loss aversion
Financial investments
Pensions
Unwilling to sell when house prices fall even though other houses are cheaper to purchase asw
not selling loss making assets with better returns available elsewhere
Cognitive bias - herding
Housing market
stock market
cryptocurrency
Nudge policy - framing
Cigarettes, healthy foods, calorie content, thermostat, smart meters
nudge policy - choice architecture
canteens and restaurants
supermarkets
location of vending machines, stairs and escalators,
recycling bins
nudge policy - restricted choice
vending machines
School menus
public smoking bans
nudge policy - mandated choice
organ donation
different bins for recycling
nudge policy - default choice
pension enrollement
organ donation
salad as a side dish
