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]
    • 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]
    • French
      • Economics
        • Search
          • Term
            • Économie comportementale
          • Additional fields of expertise
          • Definition(s)
            • L'économie comportementale est un champ de la science économique qui étudie le comportement des êtres humains dans les situations économiques. Wikipedia - by Cizc
          • Example sentence(s)
            • L'économie comportementale est un domaine de connaissance qui étudie comment les individus et les institutions font leurs choix économiques, et les conséquence de ceux-ci. - pagesperso-orange by Cizc
            • L'économie comportementale est un champ récent de la science économique qui étudie le comportement des êtres humains dans des situations économiques variées. - agro-montpellier.fr by Cizc
          • Related KudoZ question
    Compare [close]
    • Macedonian
      • Economics
        • Search
          • Term
            • бихејвиорална економија
          • Additional fields of expertise
          • Definition(s)
            • Конкретно, бихејвиоралната економија е насочена кон тоа, со помош на образцсите во човековото размислување и неговите постапки да се толкуваат добрите и лошите економски и маркетиншки практики и на тие постапки да се влијае. Таа има голема доза на оптимизам, многу е корисна за сите оние кои се занимаваат во маркетинг и продажба, а покрај тоа е и многу итнересна како наука. Own research - by Sashenka Ljuben
          • Example sentence(s)
            • Бихејвиорална економија - обид за психолошки пореалните сфаќања за човековата природа да се вклучат во економијата. by Sashenka Ljuben
          • Related KudoZ question
  • Compare this term in: Serbian, Croatian, Arabic, Bulgarian, Catalan, Czech, Chinese, German, Dutch, Greek, Spanish, Persian (Farsi), Hindi, Hungarian, Indonesian, Italian, Japanese, Latvian, 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