Environmental Policy Theory Given Bounded Rationality and Other-regarding Preferences
Established environmental policy theory is based on the assumption of homo economicus. This means that people are seen as fully rational and acting in a self-regarding manner. In line with this, economics emphasizes efficient policy solutions and the associated advantages of price incentives. Behavi...
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| Veröffentlicht in: | Environmental & resource economics 2011-06, Vol.49 (2), p.263-304 |
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| creator | Gsottbauer, Elisabeth van den Bergh, Jeroen C. J. M |
| description | Established environmental policy theory is based on the assumption of homo economicus. This means that people are seen as fully rational and acting in a self-regarding manner. In line with this, economics emphasizes efficient policy solutions and the associated advantages of price incentives. Behavioral economics offers alternative, more realistic views on individual behavior. In this paper we investigate opportunities to integrate bounded rationality and other-regarding preferences into environmental policy theory to arrive at recommendations for more effective policies. For this purpose, we will address decisions made under risk and uncertainty, intertemporal choice, decision heuristics, other-regarding preferences, heterogeneity, evolutionary selection of behaviors, and the role of happiness. Three aspects of environmental policy are considered in detail, namely sustainable consumption, environmental valuation and policy design. We pay special attention to the role of non-pecuniary, informative instruments and illustrate the implications for climate policy. |
| doi_str_mv | 10.1007/s10640-010-9433-y |
| format | Article |
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J. M</creatorcontrib><title>Environmental Policy Theory Given Bounded Rationality and Other-regarding Preferences</title><title>Environmental & resource economics</title><addtitle>Environ Resource Econ</addtitle><description>Established environmental policy theory is based on the assumption of homo economicus. This means that people are seen as fully rational and acting in a self-regarding manner. In line with this, economics emphasizes efficient policy solutions and the associated advantages of price incentives. Behavioral economics offers alternative, more realistic views on individual behavior. In this paper we investigate opportunities to integrate bounded rationality and other-regarding preferences into environmental policy theory to arrive at recommendations for more effective policies. For this purpose, we will address decisions made under risk and uncertainty, intertemporal choice, decision heuristics, other-regarding preferences, heterogeneity, evolutionary selection of behaviors, and the role of happiness. Three aspects of environmental policy are considered in detail, namely sustainable consumption, environmental valuation and policy design. We pay special attention to the role of non-pecuniary, informative instruments and illustrate the implications for climate policy.</description><subject>Behavior</subject><subject>Behavioral decision theory</subject><subject>Behavioral economics</subject><subject>Behavioural economics</subject><subject>Bounded rationality</subject><subject>Climate</subject><subject>Climate change</subject><subject>Climate policy</subject><subject>Consumption</subject><subject>D03</subject><subject>Decision making</subject><subject>Decisions</subject><subject>ecological value</subject><subject>Economic analysis</subject><subject>Economic behaviour</subject><subject>Economic Policy</subject><subject>Economic theory</subject><subject>Economics</subject><subject>Economics and Finance</subject><subject>Environmental Economics</subject><subject>Environmental Law/Policy/Ecojustice</subject><subject>Environmental Management</subject><subject>Environmental policy</subject><subject>Environmental science</subject><subject>Environmental valuation</subject><subject>Evolution</subject><subject>Evolutionary</subject><subject>H23</subject><subject>Heterogeneity</subject><subject>Heuristic</subject><subject>Homo oeconomicus</subject><subject>Incentives</subject><subject>Monetary valuation</subject><subject>Non-pecuniary instruments</subject><subject>people</subject><subject>Policies</subject><subject>Preferences</subject><subject>prices</subject><subject>Pro-environmental behavior</subject><subject>Q54</subject><subject>Q58</subject><subject>Rationality</subject><subject>risk</subject><subject>Self interest</subject><subject>Social norms</subject><subject>Studies</subject><subject>Sustainability</subject><subject>Sustainable consumption</subject><subject>Sustainable development</subject><subject>Sustainable use</subject><subject>Uncertainty</subject><subject>Valuation</subject><issn>0924-6460</issn><issn>1573-1502</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2011</creationdate><recordtype>article</recordtype><sourceid>X2L</sourceid><sourceid>ABUWG</sourceid><sourceid>AFKRA</sourceid><sourceid>AZQEC</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><sourceid>GNUQQ</sourceid><recordid>eNqFUk2P0zAQtRBIlMIP4ETEBS6B8Xd8hNWygFbaFWzPlptMWy-pHey0Uv49joJA4rAcxs-y3nszmmdCXlJ4RwH0-0xBCaiBQm0E5_X0iKyo1LymEthjsgLDRK2EgqfkWc73AGC0UCuyuQxnn2I4YhhdX93G3rdTdXfAmKbqyp8xVB_jKXTYVd_c6GNwvR-nyoWuuhkPmOqEe5c6H_bVbcIdJgwt5ufkyc71GV_8xjXZfLq8u_hcX99cfbn4cF23SsuxNtQJ1xhtFG6xZUJIQ1Ew3oAzYIRuVeO2znSdEkx0KM3WcSqZ5KAd563ha_Jm8R1S_HnCPNqjzy32vQsYT9k2WjGuVCP-z1RGgIRCX5O3DzKp1prSRileqK__od7HUyormjtLyY1iTSHRhdSmmHPZkR2SP7o0WQp2zs4u2dmSnZ2zs1PRfF00CQds_wh-uAFDwvJyttwJU46pFANKC_j5WmqYUXHLQdjDeCxmbDHLxSfsMf2d8qEJXi2inYvW7ZPPdvO9NFLl52jFjeG_AFE1vU0</recordid><startdate>20110601</startdate><enddate>20110601</enddate><creator>Gsottbauer, Elisabeth</creator><creator>van den Bergh, Jeroen C. 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M</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c675t-91a4a89796ebec244591e42380a90947c68aba9dd6424de59ba31525307a33c93</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2011</creationdate><topic>Behavior</topic><topic>Behavioral decision theory</topic><topic>Behavioral economics</topic><topic>Behavioural economics</topic><topic>Bounded rationality</topic><topic>Climate</topic><topic>Climate change</topic><topic>Climate policy</topic><topic>Consumption</topic><topic>D03</topic><topic>Decision making</topic><topic>Decisions</topic><topic>ecological value</topic><topic>Economic analysis</topic><topic>Economic behaviour</topic><topic>Economic Policy</topic><topic>Economic theory</topic><topic>Economics</topic><topic>Economics and Finance</topic><topic>Environmental Economics</topic><topic>Environmental Law/Policy/Ecojustice</topic><topic>Environmental Management</topic><topic>Environmental policy</topic><topic>Environmental science</topic><topic>Environmental valuation</topic><topic>Evolution</topic><topic>Evolutionary</topic><topic>H23</topic><topic>Heterogeneity</topic><topic>Heuristic</topic><topic>Homo oeconomicus</topic><topic>Incentives</topic><topic>Monetary valuation</topic><topic>Non-pecuniary instruments</topic><topic>people</topic><topic>Policies</topic><topic>Preferences</topic><topic>prices</topic><topic>Pro-environmental behavior</topic><topic>Q54</topic><topic>Q58</topic><topic>Rationality</topic><topic>risk</topic><topic>Self interest</topic><topic>Social norms</topic><topic>Studies</topic><topic>Sustainability</topic><topic>Sustainable consumption</topic><topic>Sustainable development</topic><topic>Sustainable use</topic><topic>Uncertainty</topic><topic>Valuation</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Gsottbauer, Elisabeth</creatorcontrib><creatorcontrib>van den Bergh, Jeroen C. 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| ispartof | Environmental & resource economics, 2011-06, Vol.49 (2), p.263-304 |
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| subjects | Behavior Behavioral decision theory Behavioral economics Behavioural economics Bounded rationality Climate Climate change Climate policy Consumption D03 Decision making Decisions ecological value Economic analysis Economic behaviour Economic Policy Economic theory Economics Economics and Finance Environmental Economics Environmental Law/Policy/Ecojustice Environmental Management Environmental policy Environmental science Environmental valuation Evolution Evolutionary H23 Heterogeneity Heuristic Homo oeconomicus Incentives Monetary valuation Non-pecuniary instruments people Policies Preferences prices Pro-environmental behavior Q54 Q58 Rationality risk Self interest Social norms Studies Sustainability Sustainable consumption Sustainable development Sustainable use Uncertainty Valuation |
| title | Environmental Policy Theory Given Bounded Rationality and Other-regarding Preferences |
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