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behavioural economics

German translation: Die Verhaltensökonomik

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Behavioural economics
German translation:Die Verhaltensökonomik

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00:56 Feb 7, 2011
English to German 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

Die Verhaltensökonomik
Definition:
Die Verhaltensökonomik (engl. Behavioral Economics) ist ein Teilgebiet der Wirtschaftswissenschaft. Sie beschäftigt sich mit menschlichem Verhalten in wirtschaftlichen Situationen. Dabei werden Konstellationen untersucht, in denen Menschen im Widerspruch zur Modell-Annahme des Homo oeconomicus, also des rationalen Nutzenmaximierers, agieren.
Selected response from:

Kim Metzger
Mexico
Grading comment
4 KudoZ points were awarded for this answer



Summary of translations provided
4 +8Die Verhaltensökonomik
Kim Metzger
4Entscheidungsorientierte Betriebswirtschaftslehre
Petra Rieker


Discussion entries: 1





  

Translations offered


3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +8
Die Verhaltensökonomik


Definition from Wikipedia:
Die Verhaltensökonomik (engl. Behavioral Economics) ist ein Teilgebiet der Wirtschaftswissenschaft. Sie beschäftigt sich mit menschlichem Verhalten in wirtschaftlichen Situationen. Dabei werden Konstellationen untersucht, in denen Menschen im Widerspruch zur Modell-Annahme des Homo oeconomicus, also des rationalen Nutzenmaximierers, agieren.

Example sentence(s):
  • Die Verhaltensökonomik stellt eine Vielzahl wirtschaftswissenschaftlicher Dogmen auf den Prüfstand. - Friedrich-Ebert-Stiftung  
Kim Metzger
Mexico
Local time: 06:55
Native speaker of: Native in EnglishEnglish
PRO pts in category: 24

Votes in favor of/against selecting this as the best translation of the term asked
Yes  BrigitteHilgner: Der gängige Ausdruck im deutschsprachigen Raum.
2 hrs
Yes  transcreator: ...wird allerdings auch ganz gern englisch gelassen
2 hrs
Yes  Kai Zimmermann
2 hrs
Yes  rbaggott
3 hrs
Yes  Ruth Wöhlk
5 hrs
Yes  ReginaS: Ja, aber "Verhaltensökonomie" wird häufiger verwendet, auch als Studienfach
5 hrs
Yes  Sabine Mertens: ...ökonomik; http://www.investorwissen24.de/boersenlexikon/b/news/behavio...
1 day 9 hrs
Yes  Allison Wright (X): The De Wiki makes no mention, as does its En counterpart of the related study, "behavio(u)ral finance", most often referred to in De (by such institutions as the KfW) as "der Behavioural Finance-Ansatz". en.wikipedia.org/wiki/Behavioral_economics
1 day 17 hrs
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13 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Entscheidungsorientierte Betriebswirtschaftslehre


Definition from Woehe, Einf. in die Betriebswirtschaft:
Die juengste Entwicklung der Betriebswirtschaftslehre ist durch eine staerkere Betonung des unternehmerischen Entscheidungsprozesses gekennzeichnet, die zu dem Begriff der "entscheidungsorientierten Betriebswirtschaft" gefuehrt hat.

Example sentence(s):
  • Die entscheidungsorientierte Betriebswirtschaftslehre baut auf der formalen Entscheidungstheorie auf, deren Ziel eine logische Analyse des menschlichen Verhaltens ist, das bestimmte Ziele unter der Annahme unterschiedlicher realer Handlungsalternativen optimal realisieren will. (Quelle: ebenda, S. 78f.) - Woehe, Einf. in die Betriebwirtschaftsl. 
Petra Rieker
United States
Local time: 08:55
Native speaker of: Native in GermanGerman
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