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Basic Income Studies

Ed. by Haagh, Anne-Louise / Howard, Michael

2 Issues per year


CiteScore 2016: 0.14

SCImago Journal Rank (SJR) 2016: 0.112
Source Normalized Impact per Paper (SNIP) 2016: 0.207

Online
ISSN
1932-0183
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Behavioral Economics and the Basic Income Guarantee

Wesley J Pech
Published Online: 2010-12-28 | DOI: https://doi.org/10.2202/1932-0183.1167

This article provides a critical discussion of the potential contributions behavioral economics makes to the idea of a Basic Income Guarantee (BIG). Behavioral economics suggests that the consequences of a basic income may be significantly different from the ones predicted by the Standard Economic Model. Three topics from this literature are analyzed and linked to the BIG idea: Prospect Theory, Motivation Crowding Theory, and Conspicuous Consumption. The article argues that a basic income may be efficiency enhancing under some conditions, but at the same time incentives related to positional concerns may increase wasteful expenditure following its implementation.

Keywords: Keywords – basic income; behavioral economics; experimental economics; psychology

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Published Online: 2010-12-28


Citation Information: Basic Income Studies, ISSN (Online) 1932-0183, DOI: https://doi.org/10.2202/1932-0183.1167.

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©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston. Copyright Clearance Center

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