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“Small Miracles” — Behavioral Insights to Improve Development Policy: The World Development Report 2015

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Contemporary Issues in Development Economics

Part of the book series: International Economic Association Series ((IEA))

Abstract

Rational actor models dominate much modern economic thinking. But rational choice theory cannot explain the striking effects of the policies discussed in the World Bank’s latest World Development Report (World Bank Group 2015). In his review of the report in The New York Times, David Brooks celebrates the behavioral approach to development because it creates opportunities for policy interventions that produce “small miracles” from the perspective of traditional economics.

The authors are grateful to the entire team of the World Development Report 2015. These are the views of the authors and do not reflect those of the World Bank, its Executive Directors, or the countries they represent.

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Demeritt, A., Hoff, K. (2016). “Small Miracles” — Behavioral Insights to Improve Development Policy: The World Development Report 2015. In: Besley, T. (eds) Contemporary Issues in Development Economics. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137529749_3

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