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behavioural economics

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00:55 Feb 7, 2011
English to Hebrew translations [PRO]
Bus/Financial - Economics
Additional field(s): Business/Commerce (general)
English term or phrase: behavioural economics
Definition from The Economist:
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.

Example sentence(s):
  • Behavioral economics blossomed from the realization that neither point of view was correct. Library Economics Liberty
  • Behavioral economics explains why we procrastinate, buy, borrow, and grab chocolate on Harvard Magazine
  • 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.
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RominaZ
RominaZ
Argentina


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Summary of translations provided
4כלכלת התנהגות
Arthur Livingstone
4כלכלה התנהגותית
Phoebe Anne


Discussion entries: 3





  

Translations offered


10 days   confidence: Answerer confidence 4/5Answerer confidence 4/5
כלכלת התנהגות


Definition from Neurotim:
ובנימה זו, כבר יש לי המלצה בשבילכם על ספר פסיכולוגי על מה שנקרא "כלכלת התנהגות", או על קבלת החלטות.

Example sentence(s):
  • בין החוקרים שהניחו את היסודות לתחום זה של כלכלת התנהגות היו הישראלים דניאל כהנמן ועמוס טברסקי, אשר יצרו את תורת הערך . - Wikipedia  

Explanation:
The text quoted is the closest I can find to a definition in Hebrew.
Arthur Livingstone
Israel
Local time: 04:46
Native speaker of: Native in EnglishEnglish
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10 days   confidence: Answerer confidence 4/5Answerer confidence 4/5
כלכלה התנהגותית


Definition from wikipedia:
כלכלה התנהגותית (behavioral economics) היא תחום בכלכלה ובפסיכולוגיה שמיישם מחקרים מתחום הפסיכולוגיה ומדעי התנהגות אחרים כדי להבין טוב יותר את נושא קבלת ההחלטות בתחום הכלכלי ואיך דברים אלו משפיעים על הכלכלה כמו מחירים, תשואות להשקעות, הקצאת משאבים וכו'. התחום עוסק בעיקר בראציונליות או בהעדר ראציונליות של סוכנים כלכליים. המודלים של כלכלה התנהגותית משלבים בדרך כלל תובנות מתחום הפסיכולוגיה יחד עם תאוריה של הכלכלה הנאו קלאסית.

Example sentence(s):
  • אחד הנושאים שבהם עוסקת כלכלה התנהגותית וכלכלה ניסויית היא מה גורם לאנשים לפעול, ואיך תמריצים שונים משפיעים על התנהגות בני האדם בפועל - wikipedia  
Phoebe Anne
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
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