Conceptual Framework of Behavioural Economics

Authors:

Pages: 169-175
DOI: https://doi.org/10.54664/SXNH4466

Abstract:

The main purpose of this paper is to systematize the characteristics of behavioural economics, and, on this basis, to highlight the differences between behavioural economics and neoclassical economics. Special emphasis is placed on the differences between the real and the rational economic man. Attention is focused on economic choice modelling under the influence of behavioural economics and the emergence of the so-called limited rationality. The paper also presents the methodological tools of behavioural economics, as well as the principles on which it is built as a modern branch of economic theory.

Keywords:

behavioural economics; neoclassical economics; limited rationality; economic behaviour

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