MOTIVATIONAL AND COGNITIVE FEATURES OF FINANCIAL DECISION-MAKING

Arkhimandritova Iuliana

The article presents theoretical modeling of financial decision-making as a manifestation of the psychology of individual economic behavior based on a generalization of modern domestic and foreign scientific literature within the framework of economic psychology and behavioral economics. The key foundations of motivational and cognitive analysis are shown, including the role of motives, attitudes, self-control and the locus of control in combination with risk perception, attention, memory and probability assessment, as well as the influence of digitalization, media and institutional norms as external determinants. Personality profiles are described and types of financial behavior are systematized, the relationship of dominant motives with cognitive distortions and the results of choice in the context of social change is revealed. The key results are the developed motivational and cognitive model of financial decision-making and the model of the influence of digital and social factors.

Keywords:motivation, cognition, financial behavior, financial decisions, decision-making, digitalization.