Behavioral Interventions: Designing Policy For Real People

Why is it that in many cases the theoretic approach to solving an economic problem fails or maybe does not work as designed? Karla Hoff, Co-Director of the World Development Report at The World Bank, shares her view on this issue in a solution proposal of the GES 2015: “Real people behave differently from the made-up model of homo economicus. More than that, the differences are systematic. “