THEORY OF BEHAVIORAL ECONOMICS: METHODOLOGICAL PERSPECTIVES AND DEVELOPMENT OF DIRECTIONS

The article reveals the fundamental principles of one of the modern trends in the development of economic theory of behavioral economics. It explores the psychological foundations of economic behavior, the causes of deviations from rational decisions that are related to cognitive limitations of human decision making and the difficulties of analysis of complex information. Modern behavioral economics provides an opportunity to explore the process of economic decision-making taking into account not only objective factors, but also subjective motives and goals taking into account economic interests. Studies of human decision making confirm that the consideration of psychological aspects provides opportunities for the study of real economic processes, approximation of theoretical constructions to business practice. It is substantiated that to feature of methodology of the modern behavioral economics is a departure from the model of rational choice and the use of methods of laboratory behavioral and economic experiments. The methodology of economic behavior also form by such components as irrationality of behavior and irrational decisions, heuristics, framing, social context. It is determined that behavioral economics uses experiments to explain the realistic functioning of market economy institutions by using concepts choice under conditions of risk and uncertainty, intertemporal choice, game theory. The results of advance of behavioral economics find more and more have applied significance in the studies of economics and financial process and mechanisms. The development of the theory of modern behavioral economics is related to the analysis of the real behavior of producers and consumers and the study of relevant institutions of the modern market economy, which contribute to the development of such concepts as the theory of consumer choice, the economy of law, the theory of economic development, the theory of games, etc.