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The Relation Rationality – Irrationality in Business as a Determinant for Deviation

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  • Adelina Milanova

Abstract

According to behavioral economics, the interactions in an economic unit reflect not only the rationality, but also the irrationality in the behaviour of the individuals and the groups of individuals, which influences the display of human capital in the given organizational structure. Questions about the way of communicating the specific characteristics of rationality and irrationality as socio-psychological characteristics concerning the interactions in the organization are risen: their influence on the economic behavior of the individuals, the management of the processes and the goals achieving. In order to build up a complete of the business behavior and to overcome any negatives, leading to ineffectiveness, it is necessary to identify and analyse the determinants for the deviation in the corporate environment. A new vision of the condition of Bulgarian companies is needed, in order to identify the problematic areas in their management and a critical evaluation of their business practices is needed, in order to note down ways of formulating and improving the micro-policies.

Suggested Citation

  • Adelina Milanova, 2018. "The Relation Rationality – Irrationality in Business as a Determinant for Deviation," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 115-120.
    • Handle: RePEc:bas:econst:y:2018:i:6:p:115-120
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    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Z1 - Other Special Topics - - Cultural Economics

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