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Behavioural economics

Indonesian translation: ekonomi perilaku

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Behavioural economics
Indonesian translation:ekonomi perilaku
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00:55 Feb 7, 2011
English to Indonesian translations [PRO]
Bus/Financial - Economics
Additional field(s): Business/Commerce (general)
English term or phrase: Behavioural economics
Definition from The Economist:
A branch of ECONOMICS that concentrates on explaining the economic decisions people make in practice, especially when these conflict with what conventional economic theory predicts they will do. Behaviourists try to augment or replace traditional ideas of economic rationality (homo economicus) with decision-making models borrowed from psychology. According to psychologists, people are disproportionately influenced by a fear of feeling regret and will often forgo benefits even to avoid only a small risk of feeling they have failed. They are also prone to cognitive dissonance, often holding on to a belief plainly at odds with new evidence, usually because the belief has been held and cherished for a long time. Then there is anchoring: people are often overly influenced by outside suggestion. People apparently also suffer from status quo bias: they are willing to take bigger gambles to maintain the status quo than they would be to acquire it in the first place. Traditional UTILITY theory assumes that people make individual decisions in the context of the big picture. But psychologists have found that they generally compartmentalise, often on superficial grounds. They then make choices about things in one particular mental compartment without taking account of the implications for things in other compartments. There is lots of evidence that people are persistently and irrationally overconfident. They are also vulnerable to hindsight bias: once something happens they overestimate the extent to which they could have predicted it. Many of these traits are captured in PROSPECT THEORY, which is at the heart of much of behavioural economics.

Example sentence(s):
  • Behavioral economics blossomed from the realization that neither point of view was correct. Library Economics Liberty
  • Behavioral economics explains why we procrastinate, buy, borrow, and grab chocolate on Harvard Magazine
  • Economics orthodoxy may look down on behavioral economics, but it's the most important development in economics in a long time. The Christian Science Monitor.
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This question was created by:
RominaZ
RominaZ
Argentina


This question is closed

ekonomi perilaku
Definition:
Bagian ilmu ekonomi perilaku yang membahas pengaruh faktor psikologis dalam perilaku ekonomi seseorang.
Selected response from:

Wiyanto Suroso
Indonesia
Grading comment
4 KudoZ points were awarded for this answer



Summary of translations provided
5 +2ekonomi perilaku
Wiyanto Suroso


  

Translations offered


2 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +2
ekonomi perilaku


Definition from SWA:
Bagian ilmu ekonomi perilaku yang membahas pengaruh faktor psikologis dalam perilaku ekonomi seseorang.

Example sentence(s):
  • Para ekonom menyarankan tiap buku teks mikroekonomi tingkat Sarjana memasukkan topik ekonomi perilaku (behavioral economics) dan ekonomi eksperimental (experimental economics) supaya ada keseimbangan antara pokok permasalahan, teori dan data empiris sehingga akan memudahkan mahasiswa memahami teori ekonomi. - Humas & Protokoler IPB  
  • Ide tentang teori ekonomi perilaku (behavioral economics) sebagian besar datang dari Daniel Kahneman, psikolog yang tahun lalu memperoleh Nobel dalam bidang ekonomi. - Ekonomi Kerakyatan UGM  
  • Levitt dan Dubner (2005, 2007), ekonom yang mendalami teori ekonomi perilaku (behavioural economics), menuliskan secara populer bahwa insentif tersebut tak harus finansial atau material, ia dapat pula berwujud sosial (misalnya status sosial) dan moral (misalnya norma). - Nasional Demokrat  
Wiyanto Suroso
Indonesia
Local time: 20:56
Native speaker of: Native in IndonesianIndonesian
PRO pts in category: 61

Votes in favor of/against selecting this as the best translation of the term asked
Yes  Monica Arifin: Pak Wiyanto, saya usul untuk tambah "ilmu" menjadi ilmu ekonomi perilaku
3 hrs
  -> Terima kasih atas sarannya yang baik.

Yes  Jamina Yap
3 days13 hrs
  -> Terima kasih
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