Richard Thaler on Libertarian Paternalism
EconTalk
00:00
Do You Think the Private Sector Will Have Figured That Out?
i think the standard arguments that economists would give for that, that difference emerging of procrastination transaction costs, are not very convincing. Cause, as you pint, nothese are very large amounts of money, and the transactions cost are relatively small. Why wouldn't? What's the implication of that, other than, ah, you've uncovered an attractive way for firms to compete in the market place)? And firms that adopt that will the better, will thrive, and the ones that don't will not thrive.
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