Explanation The individual economic decisions are not only based on the profits and losses. They are also based on the moral, ethical, emotional as well as ethical factors of the individual. Thus, the nudges will influence the decision of the consumers. The nudges will be present everywhere in the economy. The individuals will be attracted towards the different nudges and their decisions too. When there is a default option in the economy, most people will be attracted towards the default plan. When the default is to take part in the policy, the nudge will be ‘to take part’...

Ethics of using the nudges.

MICROECONOMICS(LL)COMPANION

21st Edition

ISBN: 9781260713541

Author: McConnell

Publisher: MCG

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Chapter 8, Problem 13DQ

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