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World Economic Outlook and the Challenges to the UN Development Agenda Beyond 2015 Read chapter Read first chapter

2016 | OriginalPaper | Chapter

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

Authors : Allison Demeritt, Karla Hoff

Published in: Contemporary Issues in Development Economics

Publisher: Palgrave Macmillan UK

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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.

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previous chapter Fiscal Policy, Income Redistribution and Poverty Reduction in Latin America: Bolivia, Brazil, Chile, Costa Rica, El Salvador, Guatemala, Mexico, Peru and Uruguay
next chapter Culture and Collective Action
Metadata
Title
“Small Miracles” — Behavioral Insights to Improve Development Policy: The World Development Report 2015
Authors
Allison Demeritt
Karla Hoff
Copyright Year
2016
Publisher
Palgrave Macmillan UK
Book
Contemporary Issues in Development Economics

Print ISBN: 978-1-137-57944-7

Electronic ISBN: 978-1-137-52974-9

Copyright Year: 2016

DOI
https://doi.org/10.1057/9781137529749_3