The Financial Management of Households—Behavioral Economics Perspective

Katarzyna Włodarczyk ()
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Katarzyna Włodarczyk: University of Szczecin

Chapter Chapter 3 in Problems, Methods and Tools in Experimental and Behavioral Economics, 2018, pp 35-45 from Springer

Abstract: Abstract This chapter is the theoretical discussion based on the literature on the subject. The elements of behavioral economics and behavioral finances are key tools that help to identify and explain motivating processes that occur when household members take financial decisions. As far as economic determinants are concerned, income generated by a household is undoubtedly the most important factor in determining consumer behavior. Income, along with savings and debt level, defines the final amount of money spent on consumption. The aim is to present characteristic patterns in the financial management of modern households in light of changes in these patterns that are attributed to the development of economic psychology and behavioral economics.

Keywords: Households; Finances; Behavioral economics (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-99187-0_3

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DOI: 10.1007/978-3-319-99187-0_3

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