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Transformation of the principles of behavioral and management economics in the conditions of war, European integration and adaptation to climate change

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  • Оleksandr Shubalyi

Abstract

The article examines the transformation of the principles of behavioral and managerial economics in the conditions of war, European integration and adaptation to climate change. The purpose of the article is to study the basic principles of behavioral economics and managerial economics, as well as to substantiate additional principles, based on which it is advisable to build economic relationships during the war and in the post-war period, taking into account the need to accelerate European integration and comply with the provisions of the concept of sustainable development. The urgency of solving this scientific problem is explained by the insufficiency of research on the characteristics of the behavior of economic entities and approaches to the justification of management decisions in the conditions of war in Ukraine. The methodological tools of the research were the provisions of the theory of behavioral economics and managerial economics. The object of the study is the behavior of economic subjects and the process of making managerial decisions in wartime conditions. The article examines the basic or traditional principles of behavioral economics and, taking into account the specifics of the functioning of the Ukrainian economy in wartime conditions, highlights additional principles (imitating the best, strengthening contacts and attachment or vice versa, self-preservation, cohesion). Similarly, in addition to the basic ones, additional principles of managerial economics are highlighted (taking into account the lost benefit, accompanying and alternative incomes, prioritizing compliance with the requirements of military, environmental and social security when justifying the feasibility of implementing projects at the local, regional and national levels, making decisions in the context of compliance with global and national priorities for the implementation of the UN Sustainable Development Goals by 2030 and the provisions of the European Green Deal). It was concluded that the use of the basic and additional principles of behavioral economics and managerial economics selected based on the results of the research should not be based on template approaches, but it is important that the leaders of the new formation of Ukrainian companies and state institutions put as a basis for the choice of management decisions not only maximum profit, but also took into account the associated benefits and costs

Suggested Citation

  • Оleksandr Shubalyi, 2023. "Transformation of the principles of behavioral and management economics in the conditions of war, European integration and adaptation to climate change," E-Forum Working Papers, Economic Forum, vol. 13(3), pages 40-47, September.
    • Handle: RePEc:cuc:eforum:v:13:y:2023:i:3:p:40-47
    DOI: https://doi.org/10.36910/6775-2308-8559-2023-3-5
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    1. Esther-Mirjam Sent, 2004. "Behavioral Economics: How Psychology Made Its (Limited) Way Back Into Economics," History of Political Economy, Duke University Press, vol. 36(4), pages 735-760, Winter.
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