Symposium on Behavioural Economics in Policy Making - Press Release issued by Lahore School of Economics.

Lahore -- September 04, 2019 (PPI-OT)

Following is the text of press release issued by Lahore School of Economics

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Lahore School of Economics in collaboration with B4Development (formerly Qatar Behavioural Insights Unit, created by the Supreme Committee for Delivery and Legacy in 2016 hosted a symposium on Behavioural Economics in Policy Making on 3 September 2019 at Pearl Continental Hotel, Lahore. This symposium is the first ever initiative that will engage policy-makers and researchers alike to discuss the role that Behavioural interventions can play in matters of compliance, public finance and accountability in Pakistan.

"Hosting the Middle East's first mega event has inspired us to ensure that we serve as a catalyst for socio-economic progress and development. Integrating Behavioural insight experiments within our vast array of programs is an integral part of that mission. We are pleased that the Government of Pakistan and other national stakeholders are considering applications of Behavioural economics concepts and tools in various areas of public policy including public finance management, education and healthy lifestyle. We are glad to support as well as share lessons learned from our own experience in setting up such initiatives and conducting Behavioural experiments." said H.E. Hassan Al Thawadi, Secretary General of the Supreme Committee for Delivery and Legacy.

The symposium commenced with welcome remarks from Dr. Shahid Amjad Chaudhary, Rector of Lahore School of Economics emphasizing the growing role of Behavioural economics in policy-making. Dr. Lori Foster, Professor, North Carolina State University, delivered the keynote address sharing insights from her experience as member of the White House Social and Behavioural Sciences Team.

She commented on how policies assume individuals to act rationally and therefore do not result in the desired outcomes. A change in individual behaviour would require policy-makers to nudge them in the right direction. The session was ended with an encouraging note from Dr. Fadi Makki, Head of B4Development, highlighted the importance of Behavioural interventions for policy of learning from failed experiments even if they don't give academics high return.

The first panel discussion aimed to shed light on the importance of using Behavioural insights to promote compliance, rule of law and revenue generation. The session was chaired by, Mujtaba Piracha, Additional Chief Secretary (Services...