The Relation Rationality – Irrationality in Business as a Determinant for Deviation

Adelina Milanova

Economic Studies journal, 2018, issue 6, 115-120

Abstract: According to behavioral economics, the interactions in an economic unit reflect not only the rationality, but also the irrationality in the behaviour of the individuals and the groups of individuals, which influences the display of human capital in the given organizational structure. Questions about the way of communicating the specific characteristics of rationality and irrationality as socio-psychological characteristics concerning the interactions in the organization are risen: their influence on the economic behavior of the individuals, the management of the processes and the goals achieving. In order to build up a complete of the business behavior and to overcome any negatives, leading to ineffectiveness, it is necessary to identify and analyse the determinants for the deviation in the corporate environment. A new vision of the condition of Bulgarian companies is needed, in order to identify the problematic areas in their management and a critical evaluation of their business practices is needed, in order to note down ways of formulating and improving the micro-policies.

JEL-codes: A12 A13 M14 Z1 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econst:y:2018:i:6:p:115-120

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