Psychological Mechanisms of Economic Optimism amid the Crisis

T. A. Nestik ()
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T. A. Nestik: Institute of Psychology, Russian Academy of Sciences

Studies on Russian Economic Development, 2024, vol. 35, issue 1, 13-20

Abstract: Abstract— The article analyzes the impact of economic crises on the psychological well-being of individuals, as well as the role played by indicators of the psycho-emotional state of society in economic forecasting. Individual psychological and sociopsychological mechanisms underlying the growth of economic optimism in society under crisis conditions are considered, i.e., mobilization of personal resources, “positive illusions,” including overoptimism and overestimation when control the situation. Based on the analysis of the results obtained by three online surveys conducted among Russians in 2022 (N = 1600; N = 1041; N = 1581), the author identifies the types of personal attitudes to economic sanctions. It is also shown that social optimism and positive assessment of the consequences following the sanctions make a more significant positive contribution to consumer expectations than the level of income and self-confidence. Promising directions for further research in the field of psychology of economic expectations are outlined.

Keywords: economic expectations; crisis; economic optimism; social optimism; psychological well-being; depression; anxiety; “rally-around-the-flag” effect; political trust (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1134/S107570072401012X

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