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The Psichology Behind The Economic Crisis

Amalia Pandelica () and Ionut Pandelica
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Amalia Pandelica: University of Pitesti, Faculty of Economic Sciences
Ionut Pandelica: AGORA University of Oradea

Scientific Bulletin - Economic Sciences, 2010, issue 9, 131-138

Abstract: This paper is an extensive analysis of bought international business press and academic literature in the field about crisis management and related fields. The paper is grounded on the premise that the psychology of the crisis is an important component of the present international context and psychological factors play an important part in the alteration of consumer’s behavior. The question that generated our research approach in such conditions was at what extent peoples’ behavior is determined by individual rational choices. The central message of this paper is that in the present economic crisis conditions the factors that are playing an important role in shaping people’s behaviour are: risk perception and risk attitude. We consider that at present managers should understand how their clients react in crisis conditions.

Keywords: the Local Agenda 21; S.W.O.T. analysis of the tourist activity; strategic programs (search for similar items in EconPapers)
JEL-codes: G01 J64 (search for similar items in EconPapers)
Date: 2010
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Handle: RePEc:pts:journl:y:2010:i:1:p:131-138