The many quirky decisions that people often make, which behavioral economics have found and analyzed, are so ingrained in the human psyche that there is nothing that policymakers can do about helping people make better choices for themselves.

Question

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Behavioral economics suggests that by understanding the psychological, social, and cognitive factors influencing decision-making, policymakers can design interventions, such as nudges, to help people make better choices for themselves.

The Many Quirky Decisions That People Often Make, Which Behavioral