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NUDGING TO PROHIBITION? A REASSESSMENT OF IRVING FISHER’S ECONOMICS OF PROHIBITION IN LIGHT OF MODERN BEHAVIORAL ECONOMICS
Journal of the History of Economic Thought ( IF 0.583 ) Pub Date : 2023-03-01 , DOI: 10.1017/s1053837222000062
Nicholas A. Curott , Nicholas A. Snow

In this paper we argue that Irving Fisher (1867–1947) is an unacknowledged pioneer of modern behavioral economics. Fisher’s behavioralist orientation is evident in his writings on alcohol prohibition. In these works, Fisher argued that behavioral anomalies prevent individuals from making rational choices regarding alcohol consumption. Fisher thought these anomalies arose from three sources: 1) incomplete information; 2) limited cognitive abilities; and 3) lack of willpower. These are essentially the same barriers to rational choice identified by modern-day New Paternalists. Therefore, we argue that Fisher’s work on Prohibition was a pioneering academic achievement that anticipated recent developments in economics, and not an unscientific diatribe, as previous commentators have presumed. Unlike modern-day ‘New Paternalists,’ however, Fisher rejected minor alterations to the choice architecture and advocated outright prohibition instead. This helps to illustrate a potential slippery-slope problem with modern New Paternalist arguments that should be addressed.

中文翻译:

推动禁止?根据现代行为经济学重新评估欧文·费舍尔的禁酒经济学

在本文中,我们认为欧文·费雪(Irving Fisher,1867-1947 年)是一位未被承认的现代行为经济学先驱。费舍尔的行为主义取向在他关于禁酒的著作中显而易见。在这些作品中,费舍尔认为行为异常会阻止个人对饮酒做出理性选择。Fisher 认为这些异常源于三个来源:1)不完整的信息;2)有限的认知能力;3)缺乏意志力。这些本质上与现代新家长主义者所确定的理性选择障碍相同。因此,我们认为费舍尔关于禁酒令的工作是一项开创性的学术成就,它预见了经济学的最新发展,而不是像以前的评论员所认为的那样是一种不科学的谩骂。然而,与现代的“新家长主义者”不同的是,Fisher 拒绝对选择架构进行微小改动,而是提倡彻底禁止。这有助于说明应该解决的现代新家长主义论点的潜在滑坡问题。
更新日期:2023-03-01
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