RICHARD THALER'S VIEWS ON BEHAVIORAL ECONOMICS FRAMEWORK Cover Image

DAVRANIŞSAL EKONOMİ ÇERÇEVESİNDE RICHARD THALER’İN GÖRÜŞLERİ
RICHARD THALER'S VIEWS ON BEHAVIORAL ECONOMICS FRAMEWORK

Author(s): Elveda Özdilek, Mustafa Akal
Subject(s): Economy, Psychology, Behaviorism
Published by: Haci Mustafa Paksoy
Keywords: Bounded Rationality; Behavioral Economics; Nudge; Irrational Behavior;

Summary/Abstract: The purpose of this study is to emphasize the importance of Behavioural Economics. As a part of social sciences, Economics often associates with mathematics within the framework of solving problems under rational behaviours. However, costs, returns or income do not always play an active role in making economic decisions. The society and the psychological situation of the individual has a great influence on individual decisions. In this study, the relationship between economics and psychology is emphasized by including the work of Richard Thaler, who received the Nobel Prize in Economics in 2017 with his contributions to the field. As a result, it has been revealed that there is not always rationality behind the decisions taken by individuals and how this irrational assumed psychological factors may affect individual preferences.

  • Issue Year: 5/2020
  • Issue No: 13
  • Page Range: 240-250
  • Page Count: 11
  • Language: Turkish
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