Suppose you are a government facing various social crises. Traditionally, you might send out teams of government researchers, create government-led commissions, and hire consultancies. You might host public hearings. But you wouldn't bring your problems to the internet "crowd." Over the last 10-15 years, however, governments and non-governmental organizations in both the … [Read more...] about How Can Crowdsourcing Help Latin America in the Digital Age?
Microeconomics and Competitiveness
The IDB invites researchers with a keen intellectual interest in behavioral interventions to apply for visiting positions with its recently established IDB Working Group on Behavioral Economics. As the leading multilateral institution for Latin America and the Caribbean, the IDB is looking to build on its experience helping governments use behavioral economics tools to improve … [Read more...] about New Research Opportunities at the IDB for Behavioral Economists
The year 2017 may be the year behavioral economics found its place in the sun. Fifteen years after behavioral economics pioneer Daniel Kahneman won his Nobel Prize, its principles have been transformed into key policy tools in government, business, and development agencies. The 2017 Nobel Prize to Richard Thaler, one of its principle theoreticians and practitioners, only … [Read more...] about Nudging Latin Americans to Healthier, More Prosperous Lives
"Nothing can be said to be certain, except death and taxes," said the United States' Benjamin Franklin. And few things are less pleasurably anticipated. But at least when it comes to taxes, the avoidance can make running a government especially hard. Behavioral economics, with its psychological insights into how information can be used to change citizens’ beliefs and … [Read more...] about Behavioral Economics and the Messaging That Works
Richard Thaler, the University of Chicago professor who fused psychological insights and economics to reveal how biases affect decision-making, was awarded Oct. 8 the 2017 Nobel Prize in economics. The award, which recognizes Thaler's work in overturning assumptions about economic behavior as rational and demonstrating how people could be "nudged" to make better choices, … [Read more...] about How Nobel Ideas Inspired the IDB