Behavioral Economics for Sustainability with Focus on UAE

Sareh Rotabi (sr30512@seeu.edu.mk) and Shenaj Hadzimustafa (s.daut@seu.edu.mk)
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Sareh Rotabi: South East European University (SEEU)
Shenaj Hadzimustafa: South East European University (SEEU)

A chapter in Research on Islamic Business Concepts, 2023, pp 35-51 from Springer

Abstract: Abstract Behavioral economics is a fairly new field that considers psychology, decision-making, judgment, and economics to build a more precise level of understanding of the behavior of human beings. On the other side, sustainability is being able to bring balance across the environment, economy, and equity. Furthermore, sustainable development is a development that works toward meeting the requirements of the current generation without compromising the capability of upcoming generations to meet their requirements. This chapter initially overviews the behavioral economics literature. Then, the history of sustainable reporting, the behavioral approach to sustainability, and the protection methods toward the environment are addressed. The remaining part of the chapter focuses on the UAE’s vision of sustainable development by stressing the country’s current status with regard to Sustainable Development Goals (SDGs) and important lessons learned for the UAE and the private sector. Finally, some of the key challenges faced by the private sector as well as the future of sustainable development in the UAE are identified and discussed.

Keywords: Behavioral economics; Environment; Sustainability; Sustainable development goals; United Arab Emirates (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-18663-9_3

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DOI: 10.1007/978-3-031-18663-9_3

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