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The psychology and behavioural economics of poverty

Anand, Paul and Lea, Stephen (2011). The psychology and behavioural economics of poverty. Journal of Economic Psychology, 32(2) pp. 284–293.

DOI (Digital Object Identifier) Link: http://dx.doi.org/10.1016/j.joep.2010.11.004
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Abstract

The paper provides an overview and assessment of an emerging literature on the psychology and behavioural economics of poverty. We particularly highlight poverty experiences, role of neighbourhoods, poverty dynamics and transmission, child poverty and disability and personal finance. In addition we consider psychology and policy responses by looking and autonomy and empowerment, and poverty reduction programs. Our central thesis is that the detailed knowledge of individual experiences, cognitions and social factors in psychology and related social science complements the traditional economic emphasis on structural factors and policy instruments in a way that is exemplified by emerging work in behavioural economics. We conclude it is increasingly recognised that poverty reduction policies which are informed by behavioural insights may, as a result, be more effective.

Item Type: Journal Article
Copyright Holders: 2011 Elsevier B.V.
ISSN: 0167-4870
Keywords: psychology; poverty; behavioural economics; quality of life; welfare
Academic Unit/Department: Social Sciences > Economics
Interdisciplinary Research Centre: Innovation, Knowledge & Development research centre (IKD)
Item ID: 29185
Depositing User: Paul Anand
Date Deposited: 28 Jul 2011 09:37
Last Modified: 23 Aug 2013 08:45
URI: http://oro.open.ac.uk/id/eprint/29185
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