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Behavioral economics: the essence and stages of formation

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  • L. N. Drogobytsky

Abstract

At the turn of the millennia appeared, and in subsequent years, a conceptually new economic theory-the behavioral economy-was significantly entrenched. As all new, it caused some suspicion and opposition of the scientific economic community. This article aims to at least somehow reduce the detrimental impact of these trends. It examines the origins, main actors and a long history of the development of the behavioral economy. At the same time, the essence of its main provisions is revealed, their transformation in time and prospects for practical application are analyzed.

Suggested Citation

  • L. N. Drogobytsky, 2018. "Behavioral economics: the essence and stages of formation," Strategic decisions and risk management, Real Economy Publishing House, issue 1.
    • Handle: RePEc:abw:journl:y:2018:id:749
    DOI: 10.17747/2078-8886-2018-1-26-31
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    References listed on IDEAS

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    1. John A. List, 2003. "Does Market Experience Eliminate Market Anomalies?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 118(1), pages 41-71.
    2. Bertrand, Marianne & Shafir, Eldar & Mullainathan, Sendhil, 2006. "Behavioral Economics and Marketing in Aid of Decision Making Among the Poor," Scholarly Articles 2962609, Harvard University Department of Economics.
    3. Amos Tversky & Daniel Kahneman, 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(4), pages 1039-1061.
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