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Cognitive biases and economic behaviour

Borisov Anton U.  (post-graduate student of the Plekhanov Russian University of Economics )

In this article are considered the main cognitive biases which can exert impact human decision making. Influence of each specific bias on economic activity of the person, scale of consequences for various spheres of his life represent the perspective direction of studying, both for the economic theory, and for psychology. Today similar researches are generally conducted in the field of Behavioral economics, the new direction of the economic theory which places emphasis on influence of psychological factors on economic activity.

Keywords:economic science, economic rationality, cognitive biases, behavioral economy, theory of limited rationality, economic thinking, time-inconsistent preferences, , hyperbolic discounting,, isolation error, endogenous preferences, loss aversion,, diminishing sensitivity, social norms,, intention-based reciprocity, social preferences, overconfidence effect, framing effect
 

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Citation link:
Borisov A. U. Cognitive biases and economic behaviour // Современная наука: актуальные проблемы теории и практики. Серия: ЭКОНОМИКА и ПРАВО. -2017. -№11. -С. 3-6
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