Motivational mechanisms in behavioral economics

Kerekesha Olga
Candidate of Pedagogical Sciences, Associate Professor, Head of the Department of Foreign Languages, Odessa National Economic University, Odessa, E-mail:olik_k@ukr.net

Polishchuk Volodimir
graduate student of the Department of General Economic Theory and economic policy, Odessa National Economic University, Odessa, E-mail: st_vlad0901@ukr.net

Cite this article:

Kerekesha O., Polishchuk V. (2021) Motivational mechanisms in behavioral economics. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Motivacijni mehanizmi u povedinkovij ekonomici; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 11-12 (288-289), pp. 116-125.

Abstract

Modern scientists, studying economic science and studying various economic processes and phenomena, are increasingly trying to enrich economic science and identify the main prospects and trends in the development of economics itself as a science. To this end, scientists turn to other sciences for help and use their methodology and tools. In the XXI century the neoclassical concept of economics is widely developed and dominates in modern economics. At the heart of this scientific theory is the «economic man» who, based on his knowledge, experience and strengths, tries to get the maximum benefit, and his behavior is rational. But such an ideal picture is not always created and there are situations when an economic person is dominated by emotions, his behavior deviates from the rational and often becomes irrational. The study of various anomalies and phenomena in economic human behavior is a special field of economics - "behavioral economics". This overview of the main aspects of new directions in the framework of experimental economics - behavioral economics. The historical formation, ideas of supporters and specific methodological problems of these two areas of economics are considered. Materials and methods. The methodological basis was a theoretical analysis of aspects of the development of behavioral economics. The study used the analysis of historical formation and retrospective analysis of this sector of the economy. General scientific methods such as deduction, induction, synthesis and logical analysis served as methodological tools. Results. The role of behavioral economics in general in economics is clearly presented. The genesis of this branch of economy is described in detail and its current problems are revealed. On the basis of the collected material on behavioral economics, information is given on almost all the achievements and discoveries of supporters of this area. Conclusions. It is concluded that, despite all the problems faced by behavioral economics, research and experiments bring new knowledge to economists, help study anomalies in economic behavior and answer questions about the deviation from rational behavior in economic decision-making.

Keywords

behavioral economics, motivation, mechanisms of motivation, economic man.

JEL classification: A140, D210, O150, Z130

UD classification: 330.161

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