Choice architecture - definition


Gender pay gap

80% of UK companies and public sectors organisations pay women less than men.

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Choice architecture

Choice architecture refers to the physical and symbolic environment that faces decision-makers at the point where they make a decision. The decision-making environment can have a significant impact on choices made. Choice architecture can be designed to contain a default option that is applied if the individual takes no decision. Defaults can be set up to improve welfare – such as having low-fat milk as the default option when buying a coffee. Behavioural economists are interested in how choice architecture can be manipulated by policy makers to improve economic welfare.

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WTO rules

What exactly is the 'most favoured nation' rule?

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Model agencies collude to fix rates

Regulators find leading model agencies guilty of price fixing.

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Customs unions

Costs and benefits of customs unions.

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New materials

Multiple choice papers for Paper Three.

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Savings ratio

Savings ratio falls to lowest level on record.

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