Open AccessThe Economic Behavior Theory -The Nudge Theory : An Appraisal
Author(s) -
Dr Suhasini Parashar
Publication year - 2022
Publication title -
international journal of transformation in business management
Language(s) - English
Resource type - Journals
eISSN - 2454-468X
pISSN - 2231-6868
DOI - 10.37648/ijtbm.v12i01.003
Subject(s) - nudge theory , behavioral economics , economics , public economics , prospect theory , public choice , behavioural sciences , positive economics , appeal , economic interventionism , rational choice theory (criminology) , politics , psychology , microeconomics , social psychology , political science , sociology , social science , law , criminology
The behavioral economics is making a significant impact on economic theory and economic policy. Behavioral economics with intuitive appeal, seeks to work with human limitations. Nudge theory becomes an important aspect to study about behavioral economics, political theory and behavioral sciences, as ways to influence the behavior and decision-making of groups or individuals. Nudge theory explains consumer behavior can be influenced by small suggestions and positive views. Nudges decrease low market performance, save the Government money, encourage the actions and help to increase the efficiency of resource use and their effect. Nudge helps to choose an option socially desirable beneficial for better public healthcare, civic sense and social harmony. Humans being need encouragement or intervention as nudge to do what is best for the country or society at large .