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Study of Decision-Making Mechanism of Economic Agents

Study of Decision-Making Mechanism of Economic Agents

Journal of Economic Regulation, , Vol. 11 (no. 2),

The article is devoted to the research, systematization and integration of economic knowledge in the aspect of analyzing the behavior of economic agents, as well as modeling the decision-making mechanism of economic agents. The problem of developing applied tools for modeling decision-making by economic agents, taking into account the results of the evolution of modern economic thought, is identified as a scientific goal. At the same time, the authors proceeded from the assumption that the study of the decision-making mechanism of economic agents inevitably involves the formulation of the rules of choice (algorithm), which they were guided by when performing this action. The research is based on the cognitive potential of behavioral and institutional Economics, the results of the theory of prospects, tools of expert survey, which allowed us to systematize economic knowledge in the context of the study of the decision-making mechanism of economic agents, as well as provide examples of modeling. Based on the cognitive potential of behavioral Economics, the application of the tools of behavioral Sciences in economic theory, the paper fixes the position that the choice of economic agents is subject to a sequence of causes and effects, in other words, the principle of causality (for example, based on existing consumer habits). The results of this study confirm the significant influence of institutional factors, habits, stereotypes formed from empirical experience, available information, and other factors that are not initially in the teleological focus of neoeconomical theory on decision-making by economic agents. The article systematizes the main conclusions of the research. The results obtained should later become the basis for the formation of a scientific basis for managing the behavior and choice of economic agents.

Keywords: behavioral analysis; consumer choice; economic modeling; economic behavior; economic agents

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Publisher: Ltd. "Humanitarian perspectives"
Founder: Ltd. "Humanitarian perspectives"
Online ISSN: 2412-6047
ISSN: 2078-5429