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Liberalisation and regulation in the financial crisis – is behavioural economics a solution?

Author

Listed:
  • Liviu-George MAHA

    (Alexandru Ioan Cuza University of Iaşi)

  • Paula-Elena DIACON

    (Alexandru Ioan Cuza University of Iaşi)

  • Gabriel-Andrei DONICI

    (Alexandru Ioan Cuza University of Iaşi)

Abstract

The causes of economic crisis are a subject of intense debate, most opinions of economists ranging from the liberalization of the market to its regulation. We believe that usually there is “sufficient state” and that a change in its level does not have the expected effects. Although on the long term the reduction of the state presence would be preferable, on the medium and short term this would have negative effects, such as the reduction of the number of employees. One solution would be abandoning the simplistic neoclassical economic models, and replacing them with models developed in behavioural economics that would allow state and companies to develop more effective strategies.

Suggested Citation

  • Liviu-George MAHA & Paula-Elena DIACON & Gabriel-Andrei DONICI, 2013. "Liberalisation and regulation in the financial crisis – is behavioural economics a solution?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(3(580)), pages 147-152, March.
    • Handle: RePEc:agr:journl:v:xx:y:2013:i:3(580):p:147-152
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