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The COVID-19 pandemic hit many countries at a time when their education systems were facing multiple challenges. Economic, public-health and social impacts from the pandemic have exacerbated many of these challenges. The aim of this paper is to explore the way in which the behavioural sciences can help support the policy response to the COVID-induced education crisis, and to serve as a learning experience for other future crises. The paper involves an empirical exploration of the factors associated with a range of outcomes using large nationally representative datasets, and interpreting these relationships in the context of a detailed literature review. By using data that it is generally representative of the populations of interest, and is available for many dozens of countries with different histories, languages, cultures, and socioeconomic outcomes, this paper highlights how identifying behavioural biases can direct education systems towards more effective targeted policy interventions.
Utilizing extensive research in economics, psychology, political science, neuroscience and evolutionary theory, Ananish Chaudhuri provides a critical perspective on the role of cognitive biases in decision-making during the Covid-19 pandemic. The extensive use of, and support for, stringent social distancing measures in particular is explored in depth.
Utilizing extensive research in economics, psychology, political science, neuroscience and evolutionary theory, Ananish Chaudhuri provides a critical perspective on the role of cognitive biases in decision-making during the Covid-19 pandemic. The extensive use of, and support for, stringent social distancing measures in particular is explored in depth. Nudged into Lockdown? provides clear explanations of complex scientific information regarding Covid-19, vaccines, and policy responses, to highlight issues at the center of policy-making during the pandemic. With a comprehensive overview of the policy debates around Covid-19, the book offers an alternative thought-provoking perspective on the topic, as well as suggestions for policy-making during future pandemics and other crises. It further highlights applications of a range of concepts from heuristics and biases literature, including priming, framing, anchoring, Prospect Theory, and loss aversion. Providing directions for future research in the area, this book will be an invigorating read for established academics, as well as post-graduate students looking to undertake research in Covid-19 related decision-making. It will also be a critical read for economics, political science, and public policy scholars seeking a deeper understanding of the topic.
This book sets the agenda to turn behavioral economics, which has long been considered a subordinate discipline, into mainstream economics. Ghisellini and Chang expose the conceptual and empirical inadequacy of conventional economics using illustrations of real world decision-making in a dynamic environment, including evidence from the global financial crisis. With a rigorous yet accessible style, they give a comprehensive overview of behavioral economics and of the current state of play in the field across different schools of thought. Seven major conceptual problems still affecting the development of behavioral economics are identified and the authors propose research avenues to address these issues and allow the discipline to receive its long-awaited recognition. Crucial reading for researchers and students looking for insights into the many unsolved problems of economics.
This book continues the ongoing debate about the need for alternative, interdisciplinary and heterodox approaches to teaching economics at university. It deals with challenges currently faced by economists, pursues an interdisciplinary approach to enhance collaboration with academics from disciplines other than economics, and analyses several questions and issues related to the 2007-08 financial crisis and the current Covid-19 emergency. The Covid pandemic has shown the flaws of the current neoliberal model and the inability of mainstream economic theory to address the problems created by the pandemic. The book engages with an academic audience interested in incorporating a wider range of economic approaches in their research and teaching, and with undergraduate and postgraduate economics students who are trying to understand the limitations of their current economics syllabi. The novelty of the book is the active involvement of undergraduate and postgraduate students who contribute to this volume with three chapters. The book will be of interest to a wide range of researchers, students and teachers interested in interdisciplinary and heterodox economics.
Behavioural economics and behavioural public policy have been fundamental parts of governmental responses to the Covid-19 pandemic. This was not only the case at the beginning of the pandemic as governments pondered how to get people to follow restrictions, but also during delivery of the vaccination programme. Behavioural Economics and Policy for Pandemics brings together a world-class line-up of experts to examine the successes and failures of behavioural economics and policy in relation to the Covid-19 pandemic. It documents how people changed their behaviours and use of health care and discusses what we can learn in terms of addressing future pandemics. Featuring high-profile behavioural economists such as George Loewenstein, this book uniquely uncovers behavioural regularities that emerge in the different waves of COVID-19 and documents how pandemics change our lives.
From Nobel Prize–winning economist and New York Times bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic events—and why financial panics can spread like epidemic viruses Stories people tell—about financial confidence or panic, housing booms, or Bitcoin—can go viral and powerfully affect economies, but such narratives have traditionally been ignored in economics and finance because they seem anecdotal and unscientific. In this groundbreaking book, Robert Shiller explains why we ignore these stories at our peril—and how we can begin to take them seriously. Using a rich array of examples and data, Shiller argues that studying popular stories that influence individual and collective economic behavior—what he calls "narrative economics"—may vastly improve our ability to predict, prepare for, and lessen the damage of financial crises and other major economic events. The result is nothing less than a new way to think about the economy, economic change, and economics. In a new preface, Shiller reflects on some of the challenges facing narrative economics, discusses the connection between disease epidemics and economic epidemics, and suggests why epidemiology may hold lessons for fighting economic contagions.
Sarnikar cites evidence of frequent misconceptions of economics amongst students, graduates, and even some economists, and argues that behavioral economists are uniquely qualified to investigate causes of poor learning in economics. She conducts a review of the economics education literature to identify gaps in current research efforts and suggests a two-pronged approach to fill the gaps: an engineering approach to the adoption of innovative teaching methods and a new research program to enhance economists' understanding of how learning occurs. To facilitate research into learning processes, Sarnikar provides an overview of selected learning theories from psychology, as well as new data on hidden misconceptions amongst beginning students of economics. She argues that if they ask the right questions, economists of all persuasions are likely to find surprising lessons in the answers of beginning students of economics.
"The global disruption to education caused by the COVD-19 pandemic is without parallel and the effects on learning are severe. The crisis brought education systems across the world to a halt, with school closures affecting more than 1.6 billion learners. While nearly every country in the world offered remote learning opportunities for students, the quality and reach of such initiatives varied greatly and were at best partial substitutes for in-person learning. Now, 21 months later, schools remain closed for millions of children and youth, and millions more are at risk of never returning to education. Evidence of the detrimental impacts of school closures on children's learning offer a harrowing reality: learning losses are substantial, with the most marginalized children and youth often disproportionately affected. Countries have an opportunity to accelerate learning recovery and make schools more efficient, equitable, and resilient by building on investments made and lessons learned during the crisis. Now is the time to shift from crisis to recovery - and beyond recovery, to resilient and transformative education systems that truly deliver learning and well-being for all children and youth."--The World Bank website.
Obesity is one of the most pressing health issues affecting our country. This unique volume is the first to apply behavioral economicsóthe integration of psychological and economic knowledgeóto the study of eating behavior. The text demonstrates how this discipline can be used to understand why it so difficult for individuals to control their eating habits, and helps readers use this knowledge to create and improve public health nutrition programs and policies. The text examines dietary choices and obesity through a multidisciplinary lens of biological, psychological, and social factors, and draws from the disciplines of behavioral economics, nutrition, public health, and health promotion. Based on the premise that humans are hardwired to make judgment errors and need a ìnudgeî to make decisions in their best interests, the book argues that increasing consumer well-being requires changing an individualís personal environment. It describes the power of irrational forces that compete with sensible judgment in regard to food choices, and provides strategies for improving decisions and health habits. Highly accessible, the text will be of interest to students, professors, and practitioners in nutrition-related health programs, as well as to public health policy makers. Key Features: Assesses the social determinants that affect nutrition choices, including food availability, nutrition education, income, culture, and other key factors Demonstrates how flawed decisions and self-control difficulties can affect eating behavior Provides a valuable framework for improving public health through understanding and changing the way individuals make food decisions Explains the link between obesity rates and economics of food choice (fast food, food marketing, and social factors) Provides strategies and tools to help people improve their decision-making and health habits