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Теория и практика поведенческой экономики в процессе принятия финансовых решений // The Use of Theory and Methods of Behavioural Economics in the Process of Making Financial Decisions

Author

Listed:
  • M. Rozina

    (Financial University)

  • М. Розина

    (Финансовый университет)

Abstract

This article discusses some issues connected with studies of the behavioural factors when making financial decisions. Therefore, it is possible to take into account factors that are inexplicable in traditional models. The main goal of our research was verification of the hypothesis market participants make financial decisions based on their experiences, intuition, stereotypes, illusions, emotions and not only on the criterion of financial gain and rational assumptions. After all, such diverse behaviour en masse influences the financial system as a whole. The practical significance of reported here study is the identification of errors in the application of classical economic theory and the possibilities of their further elimination. An effective behavioural model to avoid negative consequences is the primary tool in making financial decisions. In the first part, the author analyses the theoretical basis of her study. The second part examines the main problems associated with classical economic theory and presents the main mistakes in making financial decisions. Particular attention the author paid to the study of the behaviour of investors and managers. The third part described the research of behavioural mechanisms in making financial decisions with specific examples and implementation of the use of mathematical models. В статье рассмотрены вопросы, связанные с изучением поведенческих факторов при принятии финансовых решений. Цель исследования — проверка гипотезы о том, что участники рынка принимают финансовые решения, основываясь на своем опыте, интуиции, стереотипах, иллюзиях, эмоциях, а не только на критериях финансовой выгоды и рациональных предположениях. Исследованы и обобщены поведенческие механизмы и основные ошибки инвесторов и менеджеров при принятии финансовых решений на основе классической экономической теории. Приведены конкретные примеры реализации финансовых решений с использованием математических моделей. Практическая значимость данного исследования — выявление ошибок в применении классической экономической теории, возможности и способы их устранения. В качестве основного инструмента принятия финансовых решений представлена эффективная поведенческая модель, позволяющая избегать негативных последствий.

Suggested Citation

  • M. Rozina & М. Розина, 2019. "Теория и практика поведенческой экономики в процессе принятия финансовых решений // The Use of Theory and Methods of Behavioural Economics in the Process of Making Financial Decisions," Review of Business and Economics Studies // Review of Business and Economics Studies, Финансовый Университет // Financial University, vol. 7(3), pages 45-82.
    • Handle: RePEc:scn:00rbes:y:2019:i:3:p:45-82
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