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What is Behavioral Economics

Chapter 15
Handbook of Research on Sustainable Supply Chain Management for the Global Economy
Behavioral economics is an area of economic science where economists use basic understandings of psychology to explain the behavior of real economic actors.
Published in Chapter:
Behavioral Economics: New Dimension in Understanding the Real Economic Behavior
Miloš Krstić (Faculty of Science and Mathematics, University of Niš, Serbia) and Nebojša Pavlović (Faculty of Hotel and Tourism, University Kragujevac, Serbia)
Copyright: © 2020 |Pages: 18
DOI: 10.4018/978-1-7998-4601-7.ch015
Abstract
The idea of the significance of the psychological dimension of human behavior is not new and has existed in the social sciences since ancient times. Accordingly, there is an endeavor to place economic analysis on the foundations of psychological research, which takes its form of expression in economic theory through the affirmation of behavioral economics. The aim of this chapter is to critically analyze various normative research programs in behavioral economics and to consider the importance of alternative concepts, models, and theories from the point of view of improving understanding of real economic and social behavior. The particular value of this chapter lies in affirming the importance of a program of behavioral economics known as new paternalism, which is based on challenging the concept of maximizing rationality and opens a new dimension of understanding the justification of state interference in the sphere of economy and society.
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Chapter 14
Neuroscience Marketing: A New Age Marketing
An interdisciplinary field that combines insights from psychology and economics to understand how individuals make decisions.
Published in Chapter: Neuroscience Marketing: A New Age Marketing; From: Building Organizational Resilience With Neuroleadership
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Chapter 9
Understanding Actual Socio-Economic Behavior as a Source of Competitive Advantage: The Role of Experimental-Behavioral Economics in Innovation
Study of the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions and the consequences for market.
Published in Chapter: Understanding Actual Socio-Economic Behavior as a Source of Competitive Advantage: The Role of Experimental-Behavioral Economics in Innovation; From: Handbook of Research on Global Competitive Advantage through Innovation and Entrepreneurship
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Chapter 5
Promoting Behavioral Weight Loss and Physical Activity: Design of Two Interventions
Application of psychological principles to economic decision-making processes (can be adapted for application to health behavior decisions).
Published in Chapter: Promoting Behavioral Weight Loss and Physical Activity: Design of Two Interventions; From: Instructional Design Exemplars in eHealth and mHealth Education Interventions
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Chapter 11
The Urban Forest and Shopping Environments
A sub-discipline that seeks to increase the explanatory and predictive power of economic theory by providing more psychologically plausible foundations from studies of the consumer psyche and irrationality of human decision-making processes.
Published in Chapter: The Urban Forest and Shopping Environments; From: Handbook of Research on Retailing Techniques for Optimal Consumer Engagement and Experiences
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Chapter 106
Comparative Analysis of Applying Behavioral Public Policy to Telecommunication Market by International Organizations
Behavioral economics is economic studies that do not assume homo-economics and conduct analysis according to the reality of human psychology and emotions.
Published in Chapter: Comparative Analysis of Applying Behavioral Public Policy to Telecommunication Market by International Organizations; From: Encyclopedia of Information Science and Technology, Fifth Edition
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Chapter 7
A Nudge Psychology Perspective on Digital Marketing and Communication: Learning From the Nigerian Scam
Academic discipline which researches human’s deviances from rational decision-making.
Published in Chapter: A Nudge Psychology Perspective on Digital Marketing and Communication: Learning From the Nigerian Scam; From: Innovative Perspectives on Corporate Communication in the Global World
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Chapter 12
Neuroeconomic Perspectives for Economics
The study of the effects of psychological, cognitive, emotional, cultural and social factors on. economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory.
Published in Chapter: Neuroeconomic Perspectives for Economics; From: Encyclopedia of Organizational Knowledge, Administration, and Technology
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Chapter 25
Behavioral Planning Theory
A branch of economics that modifies the basic assumption of maximization of expected utility of neo-classical economics through conducting psychological experiments.
Published in Chapter: Behavioral Planning Theory; From: Encyclopedia of Business Analytics and Optimization
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Chapter 6
Nudging Towards Sustainable Public Transportation
The field that deals with explaining the phenomena of economic agents, especially individuals or households, not always behaving rationally and thus not following the classical economic theory.
Published in Chapter: Nudging Towards Sustainable Public Transportation; From: Handbook of Research on Promoting Sustainable Public Transportation Strategies in Urban Environments
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Chapter 47
Humanities, Digitizing, and Economics
The study of the effects of psychological, cognitive, emotional, cultural, and social factors on economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory.
Published in Chapter: Humanities, Digitizing, and Economics; From: Encyclopedia of Data Science and Machine Learning
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Chapter 10
Creating Relationships Based on Emotional Bonds With Generation Y in Virtual Environment: A Mediating Role of Gender
The field of science that verifies the assumptions of neoclassical economics based on the results of sociological and psychological research.
Published in Chapter: Creating Relationships Based on Emotional Bonds With Generation Y in Virtual Environment: A Mediating Role of Gender; From: Handbook of Research on Contemporary Consumerism
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