Paper Behavioral Economics and Marketing in Aid of Decision Making among the Poor
This paper considers several aspects of the economic decision making of the poor from the perspective of behavioral economics, and with a focus on potential contributions from marketing. Among other things, we consider some relevant facets of the social and institutional environments in which the poor interact, and review some behavioral patterns likely to arise in those contexts. A behaviorally more informed perspective can help make sense of what might otherwise be seen as "puzzles" in the economic comportment of the poor. A behavioral analysis suggests that substantial welfare changes may result from relatively minor policy interventions, and insightful marketing might provide much needed help in the design of such interventions.
Published in: Journal of Public Policy & Marketing
- Authored by
- Economic Mobility