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Copyright © 2011 the brookings institution 1775 Massachusetts Avenue, N.W., Washington, D.C. 20036 www.brookings.edu All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without permission in writing from the Brookings Institution Press. Library of Congress Cataloging-in-Publication data Congdon, William J. Policy and choice : public finance through the lens of behavioral economics / William J. Congdon, Jeffrey R. Kling, and Sendhil Mullainathan. p. cm. Includes bibliographical references and index. Summary: “Applies the psychological insights of behavioral economics to economic concepts such as moral hazard, deadweight loss, and incidence. Explores how deviations from the standard economic model of decisionmaking—imperfect optimization, bounded self-control, and nonstandard preferences—might affect public finance policy regarding externalities, information asymmetries, poverty, and taxes”—Provided by publisher. ISBN 978-0-8157-0498-0 (hardcover : alk. paper) 1. Finance, Public—Psychological aspects. 2. Economics—Psychological aspects. 3. Finance, Public—Decision making. 4. Human behavior—Economic aspects. I. Kling, Jeffrey R. II. Mullainathan, Sendhil. III. Title. HJ141.C65 2010 336—dc22 2010050542 9 8 7 6 5 4 3 2 1 Printed on acid-free paper Typeset in Adobe Garamond Composition by Cynthia Stock Silver Spring, Maryland Printed by R. R. Donnelley Harrisonburg, Virginia 00-0498-0 fm.indd 4 1/3/11 3:38 PM ...

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