Język Polski
English
Published
:
2013-06-30
The Behavioral Aspects of Anti-Crisis Measures
Adrian Solek
Abstract
Behavioral economics, concentrating on psychological factors contributing to the emergence of speculative bubbles - such as the representativeness and availability heuristics, excessive confidence, (financial) loss aversion, or investors' self-control problems - has been instrumental in explaining the origins and evolution of the ongoing global economic crisis. To be able to mitigate the effects of the crisis, or to prevent crises from recurring, we need to ,for example, redefine the role of state in financial markets. Known threats to this goal can also be of behavioral nature, stemming, for example, from incomplete information - implying the regulator's partiality toward the industry's interests - or from the agency problem and the regulator's short time-frame, as well as from controversies over the fairness of income control or from the regulator's over confidence. As a result, actions of governments might themselves incur substantial risks.(original abstract)Keywords:
Behavioral economics, Financial crisis, Behavioural finance, Economic crisis, HeuristicsDetails
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Solek, A. (2013). The Behavioral Aspects of Anti-Crisis Measures. Zeszyty Naukowe Wyższej Szkoły Bankowej W Poznaniu, 48(3). Retrieved from https://journals.wsb.poznan.pl/index.php/znwsb/article/view/1882