(Behavioural Economics cont. 7)

Feedback

It is especially important to provide better information and disclosure to help people make better choices.
"...information is a surprisingly strong motivator..."
Richard Thaler et al, 2021

Disclosure

(including labelling) can be used as a regulatory tool, eg cigarette smoking risks on packets starting in 1965; risk labels for pharmaceutical products plus pesticides and asbestos; occupation health and safety risks; provide and publish a blacklist of offenders, etc.