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Genesis of behavioral economics and its applicability in public finance
[Vývoj behaviorální ekonomie a možnost jejího uplatnění ve veřejných financích]

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  • Anton Vaskovskyi

Abstract

The article is focused on genesis of behavioral economics and its applicability within public finance. Behavioral economics is being recently very popular and recognised by academic community as Nobel Prize was awarded to its promoters twice in current millennium. The document is divided in three parts, where one is devoted to overview of the theory, second contains recent trends in described theory and the last one presents case studies from United Kingdom and Poland. The theoretical part describes the basic concepts and theories in relation within historical context. The second part analyses applicability of such theory in public finance and current trends and finally, third chapter contains case studies, where the presented theory is applied in practice with remarkable results.

Suggested Citation

  • Anton Vaskovskyi, 2018. "Genesis of behavioral economics and its applicability in public finance [Vývoj behaviorální ekonomie a možnost jejího uplatnění ve veřejných financích]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2018(3), pages 57-77.
    • Handle: RePEc:prg:jnlcfu:v:2018:y:2018:i:3:id:517:p:57-77
    DOI: 10.18267/j.cfuc.517
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    References listed on IDEAS

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    More about this item

    Keywords

    Behavioral economics; Behavioral finance; Prospect theory; Nudge; Public finance; Behaviorální ekonomie; Behaviorální finance; Prospektová teorie; Veřejné finance;
    All these keywords.

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion and Avoidance

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