Newest trends in the research of individual’s economic behavior at the beginning of the XXI century

  • Anna Shumei Taras Shevchenko National University of Kyiv
Keywords: heterodoxy, the economic behavior of the individual, Nobel Prize laureates, pluralism


Relevance of the research topic. There are a large number of schools which study the economic behavior of an individual in modern economic science, who is the starting point in the decision-making system. Research on the latest trends in the study of an individual's economic behavior is relevant, as it enables us to use new approaches to solve pressing problems in economic science. Formulation of the problem. Mainstream and heterodoxy exist in economic science at the same time. It is necessary to clearly distinguish what aspects and ideas a particular trend is exploring, and what questions determine which scientific world is drawn to and why. Recent studies have shown that scientists are inclined to use the ideas of heterodoxy, since its methodology, ideas and conclusions can address a number of questions and provide answers about the peculiarities of an individual's economic behavior. Analysis of recent research and publications. In a wide range of domestic and foreign publications the basic ideas of modern scientific approaches to the economic behavior of the individual are covered. However, these studies do not systematize information about mainstream heterodox schools. The purpose of the study is to systematize information about ideas of the modern heterodoxy and to substantiate the existence of pluralism in modern economic science. The methodological basis of the article was general scientific and specific research methods, including induction, deduction, analysis, synthesis and comparison. Results: The main schools of the beginning of the 21st century are examined, which explore the process of decision making by an individual in the economic system. The basic tendencies of sympathizing the scientific world to the views of representatives of heterodoxy, who consider that a person is not a rational subject, are covered. Information about all schools is systematized in the conclusion The analysis of why the neoclassical approach is mainstream is made in the end of the article.It is assumed whether there is a chance and under what conditions modern pluralism can change the basic models of economics. Conclusions. The reasons for applying the ideas of mainstream and heterodoxy were outlined on the basis of the study. It was determined that the using of ideas from different approaches is caused by the conditions of the research and the problem that the researcher wants to solve.


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Author Biography

Anna Shumei, Taras Shevchenko National University of Kyiv

Ph.D. of the Department of Economic Theory, Macro and Microeconomics

How to Cite
Shumei, A. (2019). Newest trends in the research of individual’s economic behavior at the beginning of the XXI century. University Economic Bulletin, (43), 117-125.
Еconomic Theory