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Behavioural Stimuli and Unintended Consequences PART 2

Anticipating behavioural changes is a challenging task, with so many factors that go into shaping how societies behave. As we learnt in Part 1, actions and policies enforced may yield very unexpected or unintended consequences. To further illustrate what stimulates sudden changes in behaviour, we can explore some of the regulations and restrictions imposed due

Behavioural Stimuli and Unintended Consequences PART 1

A well-intentioned solution can often result in adverse effects, causing a problem to be worse than what it had initially been. While unintended consequences do not yield only negative results, they are very common. So common, in fact, that economists refer to it as ‘The Cobra Effect’, after an anecdote about the cobras that inhabited