Affiliation:
1. International College of Economics and Finance, National Research University Higher School of Economics; Primakov National Research Institute of World Economy and International Relations
Abstract
The paper considers the contribution of Richard Thaler, Nobel Memorial Prize in Economic Sciences winner - 2017, to contemporary behavioural economics as an independent area of economics research. It covers the interactions of behavioural economics with experimental and empirical research, and the use of behavioural models to explain various phenomena of individual decisions, group interactions, financial market behaviour etc. Specific attention is paid to the practice of behavioural “nudging” and its methodological foundations (libertarian paternalism), as well as the role and place of behavioural research in modern economics in general.
Subject
Economics and Econometrics,Finance
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