How Hayekian is Sunstein's behavioral economics?

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Sugden, Robert (2023) How Hayekian is Sunstein's behavioral economics? Behavioural Public Policy, 7 (1). pp. 189-198. ISSN 2398-063X

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Abstract

I comment on Sunstein's paper proposing 'Hayekian behavioural economics'. In essence, Sunstein is merely renaming a familiar approach to normative economics, initiated in Sunstein and Thaler's seminal 2003 paper. I argue that this approach cannot fairly be described as in the spirit of Hayek's work. Sunstein's approach is based on a 'constructivist' conception of rationality that Hayek consistently criticized. Although both Hayek and Sunstein address 'knowledge problems', the two problems are fundamentally different. I develop what I claim are truly Hayekian critiques of Sunstein's claim that fuel economy mandates can be more Hayekian than carbon taxes.

Item Type: Article
Uncontrolled Keywords: division of knowledge,hayek,hayekian behavioral economics,sunstein,welfare economics,economics, econometrics and finance(all),social psychology,political science and international relations,sociology and political science,social sciences (miscellaneous),applied psychology ,/dk/atira/pure/subjectarea/asjc/2000
Faculty \ School: Faculty of Social Sciences > School of Economics
UEA Research Groups: Faculty of Social Sciences > Research Centres > Centre for Competition Policy
Faculty of Social Sciences > Research Groups > Behavioural Economics
Faculty of Social Sciences > Research Groups > Economic Theory
Faculty of Social Sciences > Research Centres > Centre for Behavioural and Experimental Social Sciences
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Depositing User: LivePure Connector
Date Deposited: 26 Feb 2021 01:02
Last Modified: 31 Oct 2024 10:30
URI: https://ueaeprints.uea.ac.uk/id/eprint/79339
DOI: 10.1017/bpp.2021.11

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