The role of emotions in economic behaviour

Project Identification
Project Period
1/2022 - 12/2022
Investor / Pogramme / Project type
Masaryk University
MU Faculty or unit
Faculty of Economics and Administration

The process of decision-making is complex and not always deliberate, since it is influenced by a large variety of factors.The magnitude of taking psychological factors into account while analyzing the process of decision-making is stipulated by the advent of behavioral and experimental economics which involve multidisciplinary researches on human behavior conducted by psychologists, economists, philosophers and many other specialists.
The goal of the project is to determine how inducing pride in different economic decisions, involving competitive behavior, charity giving and other economic-related situations might be beneficial for public sector and to provide a set of recommendations that could inform the design of public policy and, consequently, improve economic outcomes in these areas. On macroeconomic level, it might be beneficial for the government because this information gives an opportunity to predict possible consequences of introducing different measures.

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