scholarly journals BEHAVIOURAL ASPECTS OF INTERACTION OF PARTICIPANTS OF INSURANCE MARKET

2017 ◽  
pp. 116-121
Author(s):  
Antonina Sholoiko
Keyword(s):  
Decision Making ◽  
The State ◽  
Insurance Market ◽  
Analysis Method ◽  
Economic Agents ◽  
Behavioral Aspects ◽  
Micro Level ◽  
The Individual ◽  
Behavioural Aspects ◽  
Market Infrastructure

Introduction. Recent studies indicate that the state and prospects for the development of the insurance market and its infrastructure should be studied considering the behavioral aspects of the interaction of insurers and insurers with other participants in the insurance market. Purpose. The article aims to reveal the behavioral aspects of the interaction of the participants in the insurance market. Method (methodology). The article uses the following methods: method of analysis, method of synthesis, game theory method, method of generalization. Results. The essential rules of behavioral insurance are determined. They are the behavior of potential insurers does not always correspond to the standard economic models of choice and decision-making on insurance, which is explained by the influence of psychological factors on their choice in conditions of uncertainty; the behavior of potential insurers in the field of decision-making on acquiring an insurance service affects the financial position of the individual insurer at the micro level and the state of the insurance market at the macro level; the state of the insurance market is influenced not only by the behavior of insurance services consumers, but also by other economic agents operating in the same market and other markets, which again affects the behavior of potential insurers regarding their decision to insure or not. The peculiarities of the interaction of the insurance subjects with the elements of the insurance market infrastructure, between which a conflict of interest may arise, which is intended to solve the theory of games, is revealed.

The transformation of the decision-making process on the part of economic agents influenced by social constraints

2020 ◽  
Vol 16 (7) ◽  
pp. 1202-1222
Author(s):  
M.V. Grechko ◽  
L.A. Kobina ◽  
S.A. Goncharenko
Keyword(s):  
Decision Making ◽  
Consumer Choice ◽  
Social Constraints ◽  
Decision Making Process ◽  
Economic Knowledge ◽  
Economic Agents ◽  
The Individual ◽  
Contextual Environment ◽  
Economic Constraints ◽  
External Signals

Subject. The article focuses on the decision-making mechanism used by economic agents given the existing social constraints. Objectives. We devise applied toolkit to study how socio-economic constraints transform the decision-making mechanism used by economic agents. Methods. The study involves means of the expert survey, the method that streamlines economic knowledge. Results. Social constraints are illustrated to influence the decision-making mechanism used by economic agents, assuming that the individual mind relies on specific mechanisms to make judgments and decisions. Generally, the mechanisms are very useful, however they may generate serious errors during the decision-making process. Given the social constraints, economic agents were found to follow four mental models to make their decisions in case of the full or partial uncertainty, i.e. the representative relevance, accessibility, relations, heuristics (modeling). Conclusions and Relevance. The scientific ideas herein show that the inner architecture of a choice an individual makes determines his or her decisions. The decisions often depend on the contextual environment that gives external signals perceived by the individual while evaluating alternative ways. The findings can possibly be used as a mechanism to manage the consumer choice.

How Macroeconomics Lost the Complexity Vision

2016 ◽  
Author(s):  
David Colander ◽  
Roland Kupers
Keyword(s):  
Complex System ◽  
Standard Model ◽  
The State ◽  
Macro Level ◽  
Formal Models ◽  
Separate Branch ◽  
The Standard Model ◽  
Micro Level ◽  
The Difference ◽  
The Individual

This chapter tells the story of how macroeconomics developed as a separate field in an attempt to add aspects of complexity to the standard model with the aim of improving policy advice, but how those aspects of complexity were quickly lost it again. Instead of dealing with the macro economy as a complex system, macro economists focused on dotting is and crossing ts. The chapter begins by clarifying the difference between macroeconomics and microeconomics. Microeconomics builds a theory up from the individual elements—from the micro level to the macro level. It starts from assumptions of rational individuals and then analyzes how they would coordinate their actions, and what role the state should play in that coordination. Macroeconomics developed as a separate branch of economics when J. M. Keynes’s work was integrated into formal models in the 1930s and 1940s.

Theory of Shocks About States in Static and Dynamic Economics

2021 ◽  
pp. 202-240
Keyword(s):  
Middle Class ◽  
Financial Stability ◽  
Fundamental Problem ◽  
Informal Institutions ◽  
The State ◽  
Social Conditions ◽  
Public Healthcare ◽  
Individual Values ◽  
Economic Agents ◽  
The Individual

The place of the state in the theory of shocks is predetermined by the increasing importance of the subjective component of the processes of self-movement of systemic integrities. The main problem is that the state formalizes the actions of subjects as economic agents, abstracting from social conditions that generate the individual values of a person implemented in the economy. So, the economic subject acquires its own individual values in a society with a sharp polarization of citizens' incomes, inequality of opportunities, a shrinking middle class, and an ineffective public healthcare system, as demonstrated by the coronavirus pandemic. As a result, a fundamental problem arises of the discrepancy between society and economy as well as formal and informal institutions that predetermine the opportunistic behavior of the economic subjects. Thus, the state persistently strives for financial stability in the economy, abstracting from the problems of social disunity.

scholarly journals Effect of Work Team, School Culture on Decision Making of The Principals of The State High School in Jakarta

2019 ◽  
Vol 1 (4) ◽  
Author(s):  
Venny Oktaviany ◽  
Mukhneri Mukhtar ◽  
Mochamad Wahyudi
Keyword(s):  
High School ◽  
Decision Making ◽  
School Culture ◽  
Path Analysis ◽  
Work Teams ◽  
The State ◽  
Quantitative Approach ◽  
Work Team ◽  
Analysis Method ◽  
Positive Effect

The objective of this study is to learn the influence of work team and school culture toward decision making of high school in Jakarta. This study was the quantitative approach, and  path analysis method was applied to analyze the data. In this study, principals of state high school have been chosen as a unit analysis and 91 samples of state high school in Jakarta. The results of this study showed that: (1) work teams have a direct positive effect on decision making; (2) school culture has a direct positive effect on decision making. At last, this study suggested that work teams and school culture were important determinants of the principal’s decision making.

PART II: Ethics, Environment, and Migration: Immigration and the Ethics of Choice

1996 ◽  
Vol 30 (1) ◽  
pp. 90-104
Author(s):  
Teresa A. Sullivan
Keyword(s):  
Cultural Distance ◽  
The State ◽  
Macro Level ◽  
Know How ◽  
Ethical Discourse ◽  
Making Choices ◽  
Micro Level ◽  
And Migration ◽  
The Individual

This paper begins by developing a language for ethical discourse on immigration and then examining the extent to which choices may be made at the micro-level and at the macro-level. States and individuals are examined as actors who are variously described as making choices or being choiceless. The concepts of cultural distance, reciprocity, the role of the individual and of the state and their interrelationships are evaluated in the perspective of choice. Whether an ethics of immigration can be successfully developed hinges on the degree of choice that individuals and states have or perceive themselves to have. How sad and fraught with trouble is the state of those who yearly emigrate in bodies to America for the means of living…. It is, indeed, piteous that so many unhappy sons of Italy, driven by want to seek another land, should encounter ills greater than those from which they would fly…. When they reach the lands for which they are destined, ignorant as they are of the language and the place, and hired out for daily labor, they fall into the hands of the dishonest, and even into the snares of those powerful men to whom they enslave themselves. (Pope Leo XIII, 1888) You shall not oppress an alien. You well know how it feels to be an alien since you were once aliens yourselves in the land of Egypt. (Ex 23:9)

Exploitation and Politics of Decision-Making

2018 ◽  
Author(s):  
Peer Ghulam Nabi Suhail
Keyword(s):  
Decision Making ◽  
The State ◽  
Decision Makers ◽  
Macro Level ◽  
Fragile States ◽  
Land Grabbing ◽  
Jammu And Kashmir ◽  
Micro Level ◽  
New Framework

The seventh and the concluding chapter of the book discusses the larger questions pertaining to the decision-makers in the land and water deals. During the land deals process, NHPC has been exploiting peasants at the micro-level and the state of Jammu and Kashmir at the macro level. The argument, in this chapter, aims at understanding the questions of resistance, narratives, and overall land-grabbing question in the fragile states, such as, the conflict-hit region of Kashmir. It argues that the situation taken as a whole needs an entirely new framework which the theories about land-grabbing in ‘normal’ regions do not offer.

Beyond nudge: advancing the state-of-the-art of behavioural public policy and administration

2021 ◽  
Vol 49 (1) ◽  
pp. 3-23
Author(s):  
Benjamin Ewert ◽  
Kathrin Loer ◽  
Eva Thomann
Keyword(s):  
Public Policy ◽  
Policy Process ◽  
State Of The Art ◽  
The State ◽  
Special Issue ◽  
Individual Level ◽  
Behavioural Research ◽  
Micro Level ◽  
The Individual ◽  
Individual Behaviour Change

This Special Issue features theoretical, methodological, and empirical advancements of the state-of-the-art in behavioural public policy and administration. In this introduction, we develop a behaviourally-informed, integrated conceptual model of the policy process that embeds individual attitudes and behaviour into context at the meso and macro level. We argue that behavioural approaches can be situated within a broader tradition of methodological individualism. Despite focusing on the micro level of policy processes, the contributions in this issue demonstrate that the behavioural study of public policy and administration can go beyond the individual level and give important insights into policy and societal outcomes. Our model enables us to draw more substantial lessons from behavioural research by moving beyond the verification of individual behaviour change. If based on a broad conceptual design and methodological pluralism, behavioural policies bear the potential to better understand, investigate and shape social outcomes.

Consumer Decision Making In The Individual Health Insurance Market

2006 ◽  
Vol 25 (Suppl1) ◽  
pp. W226-W234 ◽  
Author(s):  
M. Susan Marquis ◽  
Melinda Beeuwkes Buntin ◽  
José J. Escarce ◽  
Kanika Kapur ◽  
Thomas A. Louis ◽  
...  
Keyword(s):  
Decision Making ◽  
Health Insurance ◽  
Insurance Market ◽  
Consumer Decision Making ◽  
Consumer Decision ◽  
Individual Health ◽  
Health Insurance Market ◽  
The Individual

scholarly journals CONSUMER CHOICE BEHAVIORAL ASPECTS IN CONDITIONS OF UNCERTAINTY

2020 ◽  
Vol 1 (18(46)) ◽  
pp. 4-9
Author(s):  
Anna Shumei
Keyword(s):  
Decision Making ◽  
Consumer Behavior ◽  
Problem Solving ◽  
Consumer Choice ◽  
Decision Making Process ◽  
Behavioral Aspects ◽  
The Individual ◽  
The Impact ◽  
The Continuum

We studied the category of «uncertainty» in the context of consumer choice of individual. It was determined that that the quality and quantity of information that consumers received and processed during decision-making played the most important role, affecting the degree of uncertainty. At the same time the quality of information plays a more important role than the quantity of information. We analyzed every stage of the individual decisions making process on the acquisition of goods and the role of uncertainty on each stage. We considered the decision-making process in conditions of uncertainty in everyday (routine) and special purchases, separated all stages of these types of purchases and defined values ​​of uncertainty influence on all types of purchases. It was determined that an individual can get into conditions of uncertainty in two types of purchases: everyday purchase, when the decision is used quickly, automatically and uncontrollably, and special (not everyday purchases), when the individual uses specific processes to make a decision, which requires additional attention and effort. Practical situations when the consumer can get into conditions of uncertainty were considered. We analyzed alternative variants of using the consumer choice and investigated the continuum of consumer behavior. We determined the conditions, when consumer behavior could correspond to «routine behavior», «limited problem solving» or « problem solving» in the continuum of consumer behavior. The modern six-stage model of the decision-making process сщтішіеі the quality of character for environmentally conscious consumers and the impact of uncertainty at each stage of decision-making in these models, especially at the stage of use and utilization, were analyzed. We identified that the study of the degree of uncertainty about the final result of decision-making is an unsolved problem in modern science and outlined the prospects of the behavioral aspects of consumer choice study in conditions of uncertainty.

scholarly journals MECHANISM OF BEHAVIOURAL ECONOMICS

2019 ◽  
Vol 5 (2) ◽  
pp. 221
Author(s):  
Olena Tymoshenko ◽  
Оlena Trokhymets
Keyword(s):  
Decision Making ◽  
Economic Development ◽  
Low Income ◽  
State Policy ◽  
Developed Countries ◽  
Behavioural Economics ◽  
The State ◽  
Decision Making Process ◽  
Economic Decisions ◽  
Behavioural Aspects

The purpose of the article. The article covers the mechanisms of behavioural economics introducing into the state policy of the country. This problem becomes especially relevant in modern conditions as people tend to make unreasonable economic decisions. The purpose of this paper is to research the irrational motives of individuals’ behaviour in making economic decisions and to determine the measures for introducing the mechanisms of behavioural economics in the state policy of Ukraine. Methodology. The survey is based on the analysis of the scientific papers of the following scientists in economics: A. Smith, K. Marks, J. Bentham, M. Weber, J. Schumpeter, A. Marshall, J. Keynes, H. Simon, H. Becker, V. Smith, D. Kahneman, A. Tversky, Richard H. Thaler, G. Akerlof, R. Shiller; on the empirical analysis and on the analysis of the behaviour economic instruments. The objective of the article is the survey of irrational motives of human behaviour during the decision-making process in economic conditions, to determine the influence of the irrational motives on social and economic development and to develop measures and activities for implementation of behavioural economics mechanisms in the state policy. The subject of the article is theoretical and methodological aspects of the behavioural economics mechanisms in the state policy. The results. The research in the article shows and explains the main trends of the behavioural studies in the modern condition, in particular: behavioural finance, behavioural game theory, the problem of making a choice in time, prospect theory. One of the examples of Herding behaviour shown in the article is the peculiarities of behavioural aspects of financial markets. Special attention is given to the “nudge theory” used by the leading countries. Behavioural economics possess the instruments, which maintain the decent living of the population and sustainable social and economic situation in the society. The results of research represent that the behavioural peculiarities of the society together with the interaction with the state policy result in the distrust of the society to the authority’s representatives. Besides, the low-income level of the population leads to the predominance of survival values in the society, while in the highly developed countries, the values of self-expression dominate. It is proposed to implement behavioural economics mechanisms in state policy of Ukraine while making economic decisions. Conclusions. Due to the new trends in economic development such as informatization, and digitalization, new ways of the economic behaviour of the population take place. One of the key aspects is the psychological approach to the decision-making process in the economic environment. Thus, behavioural economics becomes of great importance in modern society.

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