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Consumer’s Choice in the Context of Richard Thaler’s Behavioral Economics

Author

Listed:
  • Mstislav P. Afanasiev

    (National Research University Higher School of Economics, Moscow 101000, Russia)

  • Nataliya N. Shash

    (Plekhanov Russian University of Economics, Moscow 117997, Russia)

Abstract

The review on the R. Thaler’s book “Misbehaving: The Making of Behavioral Economics” in the Russian translation presents the main conceptual ideas of behavioural economy. The architecture of a consumer’s choice in the course of economic decision-making processes of all types is described. The authors draw the conclusion that Thaler’s approach can be applied to macroeconomic and the government activities, especially in the sphere of monetary, budgetary and tax policy.

Suggested Citation

  • Mstislav P. Afanasiev & Nataliya N. Shash, 2018. "Consumer’s Choice in the Context of Richard Thaler’s Behavioral Economics," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 129-131, April.
    • Handle: RePEc:fru:finjrn:180211:p:129-131
    DOI: 10.31107/2075-1990-2018-2-129-131
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    More about this item

    Keywords

    behavioural economics; architecture of consumer’s choice; economic decision; economic behavior;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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