Behavioral Economics and Marketing in Aid of Decision Making among the Poor

This article considers several aspects of the economic decision making of the poor from the perspective of behavioral economics, and it focuses on potential contributions from marketing. Among other things, the authors consider some relevant facets of the social and institutional environments in whi...

Full description

Saved in:
Bibliographic Details
Published in:Journal of public policy & marketing 2006-04, Vol.25 (1), p.8-23
Main Authors: Bertrand, Marianne, Mullainathan, Sendhil, Shafir, Eldar
Format: Article
Language:English
Subjects:
Bank accounts
Banks
Behavior
Behavioral economics
Consumer psychology
Decision making
Direct deposit
Electronics benefit transfer
Low income groups
Marketing
Poverty
Public policy
Savings accounts
Social psychology
Social research
Stereotypes
Studies
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:This article considers several aspects of the economic decision making of the poor from the perspective of behavioral economics, and it focuses on potential contributions from marketing. Among other things, the authors consider some relevant facets of the social and institutional environments in which the poor interact, and they review some behavioral patterns that are likely to arise in these contexts. A behaviorally more informed perspective can help make sense of what might otherwise be considered "puzzles" in the economic comportment of the poor. A behavioral analysis suggests that substantial welfare changes could result from relatively minor policy interventions, and insightful marketing may provide much needed help in the design of such interventions.
ISSN:0743-9156
1547-7207
DOI:10.1509/jppm.25.1.8