Generations of college economics students have been taught that consumers are rational creatures who make financial decisions by weighing price against usefulness. The alternative view, seeping into the Obama Administration, argues it’s not just about money. Social pressure and the way choices are presented can be just as important. It’s a new role for government: Pennsylvania Avenue as counterweight to Madison Avenue.
via Orszag’s Behavioralists Sway Obama Policy on Health, Finance – BusinessWeek.
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