Nudging Green: Behavioral Economics and Environmental Sustainability
Nudging Green: Behavioral Economics and Environmental Sustainability
English | 2024 | ISBN: 3031659716 | 318 Pages | PDF EPUB (True) | 31 MB
English | 2024 | ISBN: 3031659716 | 318 Pages | PDF EPUB (True) | 31 MB
Our use or rather overuse of natural resources is having an increasingly drastic and adverse effect on the environment. Behavioural economics uses the concepts and elements of psychology and applies them in economic decision-making. It has been identified that behavioural economics can be used to tackle the issue of climate change by using ‘nudges’ to influence people to make choices that are more eco-friendly. Behavioural economics also accept the presence of cognitive biases in the decision-making process, and one solution to reduce the biases is instigating ‘nudges’ that increase the probability of making optimal decisions.