Arbeitspapier
List of suggestions for behavioural elements in the macroeconomic model
Traditional economic theory describes economic agents as being perfectly rational. According to this approach, agents posses all necessary information and have the ability to process this information to make the best decision for maximizing their profit. However, in the real world this assumption does not hold for a number of reasons. First, economic agents are not in possession of all the information relevant to making decisions and furthermore, information is costly. Second, they do not have all the computational abilities needed to arrive at optimal decisions. Third, they are boundedly rational and have a number of other-regarding preferences which influence their choices. Here we provide a list with the most important behavioural biases of different stakeholders involved in a sustainability transition. This will allow us to improve macroeconomic models and associated analyses of transition policies.
- Language
-
Englisch
- Bibliographic citation
-
Series: WWWforEurope Working Paper ; No. 24
- Classification
-
Wirtschaft
- Subject
-
Behavioural economics
entrepreneurship
industrial innovation
innovation
social innovation
socio-ecological transition
- Event
-
Geistige Schöpfung
- (who)
-
Gazheli, Ardjan
Antal, Miklós
van den Bergh, Jeroen
- Event
-
Veröffentlichung
- (who)
-
WWWforEurope
- (where)
-
Vienna
- (when)
-
2013
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Gazheli, Ardjan
- Antal, Miklós
- van den Bergh, Jeroen
- WWWforEurope
Time of origin
- 2013
Other Objects (12)
Macroeconomic imbalances and institutional reforms in the EMU
Thematic report: Macroeconomic models including specifically social and environmental aspects
Macroeconomic Imbalances in the EU
Macroeconomic Imbalances and Structural Change in the EMU
Energy transition and behavioural change in rural areas - The role of energy cooperatives
A global value chain analysis of macroeconomic imbalances in Europe
Achieving absolute decoupling? Comparing biophysical scenarios and macro-economic modelling results
The impact of the financial-economic crisis on sustainability transitions: Financial investment, governance and public discourse
Labour Market Institutions and Regional Unemployment Disparities
Subjective well-being and socio-ecological transition
The challenges of EU governance and the quest for long-term growth
Civil society actors as drivers of socio-ecological transition? - Green spaces in European cities as laboratories of social innovation
Macroeconomic imbalances and institutional reforms in the EMU
Thematic report: Macroeconomic models including specifically social and environmental aspects
Macroeconomic Imbalances in the EU
Macroeconomic Imbalances and Structural Change in the EMU
Energy transition and behavioural change in rural areas - The role of energy cooperatives
A global value chain analysis of macroeconomic imbalances in Europe
Achieving absolute decoupling? Comparing biophysical scenarios and macro-economic modelling results
The impact of the financial-economic crisis on sustainability transitions: Financial investment, governance and public discourse
Labour Market Institutions and Regional Unemployment Disparities
Subjective well-being and socio-ecological transition
The challenges of EU governance and the quest for long-term growth
Civil society actors as drivers of socio-ecological transition? - Green spaces in European cities as laboratories of social innovation
Macroeconomic imbalances and institutional reforms in the EMU
Thematic report: Macroeconomic models including specifically social and environmental aspects
Macroeconomic Imbalances in the EU
Macroeconomic Imbalances and Structural Change in the EMU
Energy transition and behavioural change in rural areas - The role of energy cooperatives
A global value chain analysis of macroeconomic imbalances in Europe
Achieving absolute decoupling? Comparing biophysical scenarios and macro-economic modelling results
The impact of the financial-economic crisis on sustainability transitions: Financial investment, governance and public discourse
Labour Market Institutions and Regional Unemployment Disparities
Subjective well-being and socio-ecological transition
The challenges of EU governance and the quest for long-term growth