To see the desired glossary, please select the language and then the field of expertise.

    Home
    • English
      • Economics
        • Search
          • Term
            • Behavioural economics
          • Additional fields of expertise
          • Definition(s)
            • A branch of ECONOMICS that concentrates on explaining the economic decisions people make in practice, especially when these conflict with what conventional economic theory predicts they will do. Behaviourists try to augment or replace traditional ideas of economic rationality (homo economicus) with decision-making models borrowed from psychology. According to psychologists, people are disproportionately influenced by a fear of feeling regret and will often forgo benefits even to avoid only a small risk of feeling they have failed. They are also prone to cognitive dissonance, often holding on to a belief plainly at odds with new evidence, usually because the belief has been held and cherished for a long time. Then there is anchoring: people are often overly influenced by outside suggestion. People apparently also suffer from status quo bias: they are willing to take bigger gambles to maintain the status quo than they would be to acquire it in the first place. Traditional UTILITY theory assumes that people make individual decisions in the context of the big picture. But psychologists have found that they generally compartmentalise, often on superficial grounds. They then make choices about things in one particular mental compartment without taking account of the implications for things in other compartments. There is lots of evidence that people are persistently and irrationally overconfident. They are also vulnerable to hindsight bias: once something happens they overestimate the extent to which they could have predicted it. Many of these traits are captured in PROSPECT THEORY, which is at the heart of much of behavioural economics. The Economist
          • Example sentence(s)
            • Behavioral economics blossomed from the realization that neither point of view was correct. - Library Economics Liberty by
            • Behavioral economics explains why we procrastinate, buy, borrow, and grab chocolate on - Harvard Magazine by
            • Economics orthodoxy may look down on behavioral economics, but it's the most important development in economics in a long time. - The Christian Science Monitor. by
    Compare [close]
    • Chinese
      • Economics
        • Search
          • Term
            • 行为经济学
          • Additional fields of expertise
          • Definition(s)
            • 它将行为分析理论与经济运行规律、心理学与经济科学有机结合起来，以发现现今经济学模型中的错误或遗漏，进而修正主流经济学关于人的理性、自利、完全信息、效用最大化及偏好一致基本假设的不足。 MBA 智库百科 - by Thinkcell Wang
          • Example sentence(s)
            • 行为经济学是一门介于心理学和经济学之间的边缘学科，它打破了传统经济学的界限及视域,重视对人的非理性行为的研究,，试图根据心理学的研究成果对传统经济理论的基本假设进行修正，将非理性等复杂的人类行为分析融入标准的经济理论之中。 - 价值中国 by Thinkcell Wang
          • Related KudoZ question
    Compare [close]
    • Romanian
      • Economics
        • Search
          • Term
            • economia comportamentală
          • Additional fields of expertise
          • Definition(s)
            • Economia comportamentală studiază felul concret în care oamenii fac alegeri în fiecare zi, punând în discuție postulatele economice tradiționale și bazându-se pe experimente de teren și de laborator pentru investigarea motivațiilor concrete ale deciziilor oamenilor. Această disciplină ar putea explica de ce oamenii nu se comportă întotdeauna în mod egoist (de ex. donează bani), de ce nu acționează întotdeauna în modul cel mai logic din punct de vedere economic (de ex. păstrează un furnizor de energie mai scump în loc să îl schimbe cu un concurent mai ieftin) sau de ce atribuie unor obiecte o valoare mai mare decât altora care au aceeași valoare reală. europa.eu - by George C.
          • Example sentence(s)
            • Economia comportamentala ia în calcul toate fluctuatiile rationalitatii umane, fie ca este perturbata de emotii, efectul de turma, tehnici de marketing sau pur si simplu incapacitatea lor de a face calcule economice. În ultimii ani, economia comportamentala ofera solutii pentru o varietate de probleme de zi cu zi, de la obezitate si diferite forme de dependenta, incapacitatea de a urma cu rigoare un tratament medical sau chiar încalzirea globala. - agrimanagement.ro by George C.
          • Related KudoZ question
    Compare [close]
    • Hindi
      • Economics
        • Search
          • Term
            • व्यवहारपरक अर्थशास्त्र
          • Additional fields of expertise
          • Definition(s)
            • यह अर्थशास्त्र की वह शाखा है जिसमें निर्णय प्रक्रियाओं का विश्‍लेषण मनोविज्ञान के सिद्धांतों पर आधारित होता है। Own research - by Suyash Suprabh
          • Example sentence(s)
            • व्यवहारपरक अर्थशास्त्र के सिद्धांतों से उपभोक्‍ताओं की रुचियाँ जानने में मदद मिलती है। - विकिपीडिया by Suyash Suprabh
          • Related KudoZ question
    Compare [close]
    • Arabic
      • Economics
        • Search
          • Term
            • الاقتصاد السلوكي
          • Additional fields of expertise
          • Definition(s)
            • الاقتصاد السلوكي هو دراسة أثر علم النفس في عملية صنع القرار الاقتصادي وبعبارة أخرى ، كيف يمكن أن تؤثر عواطف وأفكار الناس على كيفية اتخاذ القرارات المالية. Behavioral economics and its related area of study, behavioral finance, use social, cognitive and emotional factors in understanding the economic decisions of individuals and institutions performing economic functions, including consumers, borrowers and investors, and their effects on market prices, returns and the resource allocation. The fields are primarily concerned with the bounds of rationality (selfishness, self-control) of economic agents. Behavioral models typically integrate insights from psychology with neo-classical economic theory. Wikipedia - by Marwa Shehata
          • Example sentence(s)
            • الاقتصاد السلوكي هو دراسة أثر علم النفس في عملية صنع القرار الاقتصادي . by Marwa Shehata
          • Related KudoZ question
    Compare [close]
    • Indonesian
      • Economics
        • Search
          • Term
            • ekonomi perilaku
          • Additional fields of expertise
          • Definition(s)
            • Bagian ilmu ekonomi perilaku yang membahas pengaruh faktor psikologis dalam perilaku ekonomi seseorang. SWA - by Wiyanto Suroso
          • Example sentence(s)
            • Para ekonom menyarankan tiap buku teks mikroekonomi tingkat Sarjana memasukkan topik ekonomi perilaku (behavioral economics) dan ekonomi eksperimental (experimental economics) supaya ada keseimbangan antara pokok permasalahan, teori dan data empiris sehingga akan memudahkan mahasiswa memahami teori ekonomi. - Humas & Protokoler IPB by Wiyanto Suroso
            • Ide tentang teori ekonomi perilaku (behavioral economics) sebagian besar datang dari Daniel Kahneman, psikolog yang tahun lalu memperoleh Nobel dalam bidang ekonomi. - Ekonomi Kerakyatan UGM by Wiyanto Suroso
            • Levitt dan Dubner (2005, 2007), ekonom yang mendalami teori ekonomi perilaku (behavioural economics), menuliskan secara populer bahwa insentif tersebut tak harus finansial atau material, ia dapat pula berwujud sosial (misalnya status sosial) dan moral (misalnya norma). - Nasional Demokrat by Wiyanto Suroso
          • Related KudoZ question
  • Compare this term in: Serbian, Croatian, Bulgarian, Catalan, Czech, German, Dutch, Greek, Spanish, Persian (Farsi), French, Hungarian, Italian, Japanese, Latvian, Macedonian, Norwegian, Polish, Portuguese, Russian, Slovak, Slovenian, Turkish, Ukrainian, Vietnamese

The glossary compiled from Glossary-building KudoZ is made available openly under the Creative Commons "By" license (v3.0). By submitting this form, you agree to make your contribution available to others under the terms of that license.

Creative Commons License