ECONOMIC BEHAVIOR: THE RELATIONSHIP BETWEEN INSTITUTIONALAND PSYCHOLOGICAL APPROACHES

Abstract

Aim. To study the influence of institutional and psychological factors on the behavior of individuals and to substantiate the need to take them into account. Methodology. The article discusses modern approaches to explaining economic behavior, shows the relevance of using, along with traditional methods of economic theory, institutional and psychological approaches that expand and supplement the traditional analysis and understanding of the motives of behavior of individuals operating in a certain environment. Along with traditional economic methods, institutional and behavioral (psychological) methods are used, including observation, comparison, analysis and presentation of generalized results. Results. In the course of the work, the necessity of integration and interconnection of modern neoclassical, institutional and psychological approaches to the study of the behavior of individuals is shown. Research implications. The results of the work show the need for the integrated use of tools of various social sciences (economics, psychology, sociology) in the study of economic behavior and make a certain contribution to improving the tools of these studies.