مرکز منطقه ای اطلاع رساني علوم و فناوري - A LITERATURE REVIEW FOR THE UNDERSTANDING OF BEHAVIORAL ECONOMICS

Abstract :

From the beginning of the 20th century economy has been shaped with mainstream economics which are formed by Classical, Neoclassical and Keynesian Economics. Because mainstream economics are intertwined with mathematics, economics became distinct from psychology and sociology. In other words, mainstream economics used mathematics as a purpose instead of using it as a tool. The theories put forth on the basis of mathematical models that are built on restrictive assumptions are not capable of explaining most of the economic conditions and crises. Behavioral Economics started a discussion about the assumption of rational person and pointed to another view by using the results of the psychlogical tests. Today, many countires are using behavioral economics in their public policies. But in Turkey, the lack of studies conducted on behavioral economics in native language is making a negative impact on the development of this field. The purpose of this work is to make a survey of the studies about the importance of the behavioral economics, its’ historical backround and breaking points from beggining to today in a single source for the researchers that are interested in behavioral economics.