Behavioral Economics: Development, Condition and Perspectives

IJASOS- International E-Journal of Advances in Social Sciences, Vol. III, Issue 8, August 2017

11 Pages Posted: 27 Mar 2018

See all articles by Dimitar Kanev

Dimitar Kanev

Varna Free University 'Chernorizets Hrabar'

Venelin Terziev

University of Ruse; Georgi Rakovski Military Academy, Sofia, Bulgaria

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Date Written: August 31, 2017

Abstract

The study examines the place of behavioral economics in the structure of economic science and the practice of state regulating. The thesis that neoclassicism is an appropriate normative approach for analyzing human behavior is defended but the comparative advantages are on the side of behavioral economics in the answers of inscriptive, diagnostic, prognostic and perspective questions. It tracks the historical roots, the ideas of behavioral economics for the limited rationality, will and egoism are presented in short as well as the contribution of behavioral approach to the state intervention’s ideology and practice. The libertarian paternalism idea and its role for the transformation of “state of wealth” into the gaining clearer and clearer outlines “new paternalistic state” are presented.

Keywords: behavioral economics, libertarian paternalism, nudge

JEL Classification: J00, J08, P00

Suggested Citation

Kanev, Dimitar and Terziev, Venelin, Behavioral Economics: Development, Condition and Perspectives (August 31, 2017). IJASOS- International E-Journal of Advances in Social Sciences, Vol. III, Issue 8, August 2017, Available at SSRN: https://ssrn.com/abstract=3147070

Dimitar Kanev

Varna Free University 'Chernorizets Hrabar' ( email )

KK
Varna, 9007
Bulgaria

Venelin Terziev (Contact Author)

University of Ruse ( email )

8 Studentska Street
Ruse, 7017
Bulgaria

Georgi Rakovski Military Academy, Sofia, Bulgaria ( email )

Sofia, 1000
Bulgaria

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