THEORETICAL APPROACHES TO ANALYSIS OF ECONOMIC BEHAVIOR UNDER CONDITIONS OF MACROECONOMIC AND INSTITUTIONAL CHANGES |
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Author |
 Nabatova O. O., associate professor, Kharkiv, Pushinska, 77 |
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In heading |
Economic theory; | ||||
Signed print |
22.05.2015 | Issues number |
2015 - № 2 (21) | Page |
74-85 |
Type of articles |
Scientific article | Code UDK |
330.16 | ISSN print |
2411-5584 |
Abstract |
Problem setting. Importance of economic behavior examination is stipulated by search of mechanisms of implementation of country development goals. This search depends on «productivity» of behavior of its citizens. Analysis of recent research and publications. Problematics of human economic behavior is researched in scientific papers of classics of economic thought such as A. Smith, K. Marx, M. V eber, J. M. K eynes, etc. and representatives of neoclassic and institutional directions such as H. B ecker, V. V olchyk, A. Marshall, I. R ozmainskyi, H. Simon, O. Williamson, J. Hodgson, etc. A human behavior matter has been examined by representatives of sociological and psychological sciences such as R. D arendorf, T. P arsons, A. Maslow, V. Radaiev, etc. Behavioral economics, presented by G. A kerlof, D. A riely, D. Kahneman, A. Tversky, R. Shiller, etc., researches an irrational choice problem. Paper objective. The paper objective is to summarize the main theoretical approaches to economic behavior examination, to determine an extent of its irrationality, and to analyze its institutional and psychological factors. Paper main body. Economics develops due to involvement of uncertainty elements in the process of decision making. Economic behavior is considered to be more and more stipulated not by economic reasons and human nature, but by restrictions of an institutional environment and psychological mechanisms of individual choice restriction. The author recognizes that maximization as a strong form of rationality does not always describe human behavior in the process of the real economic activity. Economic choice rationality is considered as a tendency stipulated by optimizing actions of the very humans, social institutions forcing humans to behave rationally, habits, stereotypes, skills, behavior models, which were formed in the social evolution process. Behavioral economics, which stipulates possibility and detects features of irrational behavior emergence, has indicated and described a set of cognitive factors affecting a process of decision making by bounded rational economic entities. Conclusions of the research. Analysis and comparison of economic, social, and psychological approaches to human behavior examination has indicated significant divergences between theoretical frameworks and methodology and models of a human. This stipulates necessity of formation of inter-discipline knowledge on economic behavior. |
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Keywords |
Economic behavior, irrationality, bounded rationality, behavioral economics, heuristics. | ||||
Reviewer |
Marchenko O . S., Doctor of Economic Sciences, Professor, Yaroslav Mudryi National Law University, Kharkiv, Ukraine. | ||||
External reviewer |
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Article in PDF |
2 74-85 | ||||
Bibliography |
none | ||||
Code DOI |
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This post is also available in: Ukrainian
02.04.2015
