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The Economic Transition Of Romania From A Behavioural Economics Perspective

Author

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  • Paula-Elena Diacon

    (Alexandru Ioan Cuza University of Iasi, Romania)

Abstract

The aim of this article is to briefly analyze the economic transition of Romania from a behavioural economics perspective. Despite the adverse effects experienced in the past regime, the paper finds out that the suitable macroeconomic policies implemented had fundamental effects, generating economic welfare and higher standards of living, life satisfaction, and happiness / subjective well-being.

Suggested Citation

  • Paula-Elena Diacon, 2012. "The Economic Transition Of Romania From A Behavioural Economics Perspective," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 4(3), pages 296-305, September.
    • Handle: RePEc:jes:wpaper:y:2012:v:4:i:3:p:296-305
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    File URL: http://ceswp.uaic.ro/articles/CESWP2012_IV3_DIA.pdf
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    References listed on IDEAS

    as
    1. Cezar Scarlat & Eugen I. Scarlat, 2007. "Theoretical Aspects of the Economic Transition: The Case of Romania," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 5(4), pages 307-331.
    2. Matthew Rabin, 1998. "Psychology and Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 11-46, March.
    3. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    4. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 69(1), pages 99-118.
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    Cited by:

    1. Paula-Elena Diacon, 2014. "From Economic Behaviour to Behavioural Economics," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 1(1), pages 171-180, February.

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    More about this item

    Keywords

    behavioural economics; economic transition; macroeconomic policies Romania;
    All these keywords.

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General

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