A Behavioral Economics Perspective on the Entrepreneurial State and Mission-Oriented Innovation Policy
- It is argued that the concepts of mission-oriented innovation policy and also of the entrepreneurial state will lead to the implementation of policies that are highly vulnerable to behavioral biases and the inefficient use of heuristics. In political practice, we can therefore not expect efficient mission-oriented policies. In particular, I argue that missions as a political commitment mechanism intended to devote massive resources to a specific cause will often only work if biases like the availability bias and loss aversion are deliberately used in order to secure voter consent. Furthermore, I also argue that the argument used by Mazzucato (Mission Economy: A Moonshot Guide to Changing Capitalism. London: Penguin UK, 2021) herself also contains several behavioral biases.
Verfasserangaben: | Jan SchnellenbachORCiD |
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DOI: | https://doi.org/10.1007/978-3-031-49196-2_4 |
ISBN: | 9783031491955 |
ISSN: | 1572-1922 |
Titel der Quelle (Englisch): | Moonshots and the New Industrial Policy: Questioning the Mission Economy |
Verlag: | Springer Nature Switzerland |
Verlagsort: | Cham |
Herausgeber*in: | Magnus Henrekson, Christian Sandström, Mikael Stenkula |
Dokumentart: | Teil eines Buches (Kapitel) |
Sprache: | Englisch |
Erscheinungsjahr: | 2024 |
Erste Seite: | 61 |
Letzte Seite: | 76 |
Schriftenreihe ; Bandnummer: | International Studies in Entrepreneurship (ISEN) ; volume 56 |
Fakultät / Fachgebiet: | Fakultät 5 Wirtschaft, Recht und Gesellschaft / FG VWL, insbesondere Mikroökonomik |