The Russians confirm the theory of the Nobel laureate in Economics

The Russians confirm the theory of the Nobel laureate in Economics

Richard Thaler on Monday received the Nobel prize in Economics for contributions to the study of economic behavior. His work explain why people love discounts, go into debt and watching expenses. The behavior of the Russians is a great illustration of the concept of Thaler, economists say.

The contribution of Thaler, not only in the description of the solutions — he showed how to manipulate people’s behavior, according to economists surveyed by Bi-bi-si.

The Taler became the progenitor of the concept of “mental accounting” is how people think when you make a economic decision. For example, whether to buy thing on sale at a discount or in a nearby store without discount at the same price.

Russian economists believe that “mental accounting” to explain many phenomena of Russian reality, including the device of the pension system, the lack of protests at tightening regulation of the Internet and the tendency of people to go into debt.

Often faced with behavioral characteristics, which is played and business politicians and advertisers, and TV, and paralexia Bilanishvili the laboratory of experimental and behavioral Economics, Higher school of Economics (HSE)

Can’t bring myself to save for retirement

People have insufficient savings when they retire is a huge problem for Russia and other countries, says Professor of the Russian economic school (NES) and the University Pompeu Fabra in Barcelona Ruben Enikolopov.

“It’s such a problem. People basically want to save, but now I can not postpone [the money],” says the economist. Right here and play the role of psychological problems, about which wrote Taler — for example, lack of self-control.

The newswe Have to give to actually hold the product in hand — and it immediately want to buy. For which he was given the Nobel prize for Economics in 2017, gaduwa many countries, according to Enikolopov, in order to get people to save, use tricks.

People were offered a contract, which obliged them in the future to defer more of their income in retirement. What they decided today, and the consequences of advancing in the future and simplifies the choice, he explains.

The same logic, the expert’s opinion, applicable to health care: people usually don’t go to the doctor until problems arise. People find it easier to sign a piece of paper and commit themselves to undergo medical examination in a month. According to Enikolopov, it is just such “little tricks”, wrote about the Thaler.

Do not follow the spending budget

“In the West, the main applications of his theory — it’s marketing, politics and the public sphere,” says Professor of Finance, NES Alexei Goriaev. As an example, he cites the fact that people almost do not monitor public spending. Here also triggers the concept of “mental accounting”.

Grief describes this situation: in a small Russian town celebrates the city day, which will invite famous artists, that is not cheap. Most people this takes a holiday, arrived in the city star, says the expert.

But if the amount spent to teach differently — for example, to divide by every resident of the city or to calculate how much this amount can be repaired kilometers of roads, people can choose something else, he said.