On the Equilibrium Effects of Nudging
本文指出，消费者系统性决策偏差使其易受市场剥削，而自由家长主义主张用助推等软干预缓解问题。但若将有限理性选择模型纳入分析，市场对助推的均衡反应可能逆转其理论效果。
Consumers’ systematic decision biases make them vulnerable to market exploitation. The doctrine of libertarian paternalism maintains that this problem can be mitigated by soft interventions (nudges) like disclosure or default architecture. However, the case for nudging is often made without an explicit model of the boundedly rational choice procedures that lie behind consumer biases. I demonstrate that once such models are incorporated into the analysis, equilibrium market reaction to nudges can reverse their theoretical consequences.