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The Psichology Behind The Economic Crisis

Author

Listed:
  • Amalia PANDELICA

    (University of Pitesti, Faculty of Economic Sciences)

  • Ionut PANDELICA

    (AGORA University of Oradea)

Abstract

This paper is an extensive analysis of bought international business press and academic literature in the field about crisis management and related fields. The paper is grounded on the premise that the psychology of the crisis is an important component of the present international context and psychological factors play an important part in the alteration of consumer’s behavior. The question that generated our research approach in such conditions was at what extent peoples’ behavior is determined by individual rational choices. The central message of this paper is that in the present economic crisis conditions the factors that are playing an important role in shaping people’s behaviour are: risk perception and risk attitude. We consider that at present managers should understand how their clients react in crisis conditions.

Suggested Citation

  • Amalia PANDELICA & Ionut PANDELICA, 2010. "The Psichology Behind The Economic Crisis," Scientific Bulletin - Economic Sciences, University of Pitesti, issue 9, pages 131-138.
    • Handle: RePEc:pts:journl:y:2010:i:1:p:131-138
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    References listed on IDEAS

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    1. Francine Schlosser & Andrew Templer & Denise Ghanam, 2006. "How Human Resource Outsourcing Affects Organizational Learning in the Knowledge Economy," Journal of Labor Research, Transaction Publishers, vol. 27(3), pages 291-303, June.
    2. Zurawicki, Leon & Braidot, Nestor, 2005. "Consumers during crisis: responses from the middle class in Argentina," Journal of Business Research, Elsevier, vol. 58(8), pages 1100-1109, August.
    3. Abraham Carmeli & Zachary Sheaffer, 2009. "How Leadership Characteristics Affect Organizational Decline and Downsizing," Journal of Business Ethics, Springer, vol. 86(3), pages 363-378, May.
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    More about this item

    Keywords

    the Local Agenda 21; S.W.O.T. analysis of the tourist activity; strategic programs;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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