Give People Choices, Not Edicts
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Dec. 5 (Bloomberg) -- Over the past few years, many nationshave adopted policies that promise to improve people’s liveswhile preserving their freedom of choice. These approaches,informed by behavioral economics, are sometimes called nudges.
Nudges include disclosure policies, as in the idea thatborrowers should “know before they owe.” They includesimplification, as in recent reductions in the paperworkrequirements for the Free Application for Federal Student Aid.