RATIONALITY AS A CONTINUUM: BETWEEN ECONOMIC IMPERIALISM AND BEHAVIORAL ECONOMICS

Abstract

This article presents a comparative analysis of the human model within the framework of economic imperialism and behavioral economics. It is shown that economic imperialism proceeds from the premise of the complete and optimizing rationality of the individual, extending it to a wide range of social phenomena. This paradigm is characterized by a formalized approach and the universalization of the rational choice model. In contrast, behavioral economics, relying on the results of experimental studies, substantiates the concept of bounded rationality, which takes into account cognitive limitations, the influence of emotions, and the context of decision-making. It is revealed that the key methodological difference between the approaches under consideration is the interpretation of rationality: from a strict optimization model to a psychologically and institutionally determined form of behavior. An approach to understanding rationality as a continuum is proposed, within which a strict optimizing model and behaviorally determined rationality act as extreme poles of a single analytical space. It is shown that the transition from methodological imperialism to methodological pluralism expands the explanatory potential of economic theory and creates the conditions for a more complete analysis of real socio-economic processes.