The role of culture in economic development in behavioral economics and neoclassical economics
DOI:
https://doi.org/10.29015/cerem.95Keywords:
culture, behavioral economics, paradigm of mainstream economicsAbstract
The paper presents the influence of behavioral economics on the economic theory. The author shows this influence through the modification of the paradigm of mainstream economics. In behavioral economics, culture is a background of economic research. Therefore, at the end of the paper the author presents the influence of culture on the economic growth and economic development.References
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