Behavioral Public Economics

Shinji Teraji is Professor of Economics at Yamaguchi University, Japan. His research is mainly concerned with behavioral economics, institutional economics, and economic methodology.

• 1. Introduction: Why ‘Behavioral’ Public Economics 2. Preferences, Utility, and Welfare 3. Economic Incentives in Public Economics 4. Behavioral Economics and Public Policy 5. Social Preferences and Moral Economy 6. Social Incentives and Interaction 7. Governing the Commons with Social Incentives. Bibliography

"Public economics has enriched economics by showing how economic outcomes can be improved by addressing market failures. In his Behavioral Public Economics, Shinji Teraji provides significant insight into how behavioral economics is enriching public economics, in particular by recognizing the impacts of social incentives and social preferences in efforts to address market failures."Professor Mark A. Pingle, University of Nevada, Reno, USA"This book provides a thorough investigation of behavioral public economics, a relatively new approach to public economics. Professor Shinji Teraji's book is a timely contribution at a time when insights from behavioral economics can help with global challenges we are facing including the COVID-19 pandemic. I can't wait to use it in my classes."Distinguished Professor Mehmet S. Tosun, University of Nevada, Reno, USA"In his important new book, Shinji Teraji, very explicitly and uniquely extends traditional public economics with the important contributions made over the decades by behavioural economics, which broadens economic modelling to incorporate critical non-economic variables. He also introduces and delves into the implications of asymmetric and costly information, processing capabilities, moral considerations, and preference formation and their realization to provide importance insights into public policy and how to better model real world individuals."Morris Altman , Chair Professor of Behavioural and Institutional Economics & Co-Operatives , School of Business, University of Dundee