TY  - JOUR
T1  - Regulating Irrational Behavior in Economic Agents: Models and Strategies
A1  - Anastasia Sedova
JF  - Asian Journal of Individual and Organizational Behavior
JO  - Asian J Indiv Organ Behav
SN  - 3108-4192
Y1  - 2022
VL  - 2
IS  - 1
DO  - 10.51847/NPJ8eR9o2M
SP  - 10
EP  - 14
N2  - This paper aims to examine the models of irrational behavior exhibited by economic agents and the methods for regulating such behaviors. General and specific research methods were employed to achieve this objective. The paper presents three behavioral models—reference, standard, and deviant—demonstrating how economic agents make decisions under the influence of a combination of internal and external factors. It examines the key regulatory approaches to managing irrational behavior using two core concepts: behaviorism and ethology. The study concludes that behaviorist strategies are most effective for simple decision-making scenarios with quick feedback and easily identifiable outcomes. For more complex decisions without immediate feedback and challenging-to-assess effects, cognitive ethology is recommended, especially through tools such as choice architecture and institutional design.
UR  - https://apsshs.com/article/regulating-irrational-behavior-in-economic-agents-models-and-strategies-ufo8zbjztyr66mt
ER  -