How Hayekian is Sunstein’s behavioural economics?

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

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I comment on Sunstein’s paper proposing ‘Hayekian behavioural economics’. In essentials, Sunstein is merely re-naming 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 Hayek and Sunstein both 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: economics, econometrics and finance(all) ,/dk/atira/pure/subjectarea/asjc/2000
Faculty \ School: Faculty of Social Sciences > School of Economics
Depositing User: LivePure Connector
Date Deposited: 26 Feb 2021 01:02
Last Modified: 15 Dec 2022 03:12
DOI: 10.1017/bpp.2021.11

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