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Analysts who study the Singapore government have frequently noted how the country's policies are grounded in sound economics thinking. Policies are designed to be efficient even if they are not always popular. This pioneering book takes a different approach. It aims to demonstrate how successful policies in Singapore have integrated conventional economics principles with insights from behavioural economics even before these principles became popular. Using examples from various policy domains, it aims to show how good policy design often requires a synthesis of economic logic and psychological insights. Policies should not only be compatible with economic incentives, but should also be sensitive to the cognitive abilities, limitations and biases of citizens. Written by policy practitioners, this book is an important introduction to how behavioural economics and the findings from cognitive psychology can be intelligently applied to the design of public policies. As one of the few books written on the subject, it promises to stimulate wider interest in the subject among researchers, policymakers and anyone interested in the design of intelligent policies.
List of contents
Cognition, Choice and Policy Design; Key Ideas in Behavioural Economics - and What They Mean for Policy Design; Incentives, Norms and Public Policy; A Behavioural Perspective to Managing Traffic Congestion in Singapore; Can Psychology Save the Planet and Improve our Environment; Promoting Competition in Electricity Retail: Insights from Behavioural Economics; Discretionary Transfers: Providing Fiscal Support in a Behaviourally Compatible Way; Using Behavioural Insights to Improve Individual Health Decisions; A Behavioural View on Designing Singapore's National Annuity Scheme; Behavioural Economics, Policy Analysis, and the Design of Regulatory Reform.
