Rationality in decision-making: the effect of economic scenarios on voters’ decisions / A racionalidade na tomada de decisão: o efeito de cenários econômicos na decisão de eleitores

Autores

  • Ingrid Rafaele Rodrigues Leiria
  • Tiago Wickstrom Alves

Palavras-chave:

decision-making, behavioral economics, voting, rationality.

Resumo

The agents’ decisions related to investment, consumption, and other issues are influenced by economics conditions. Similarly, in a majority election, voters could decide based on the economic scenario. Considering this possibility, two hypotheses were formulated to explain reasons for the decision of the voters. The first situation relates to the possibility that the voters choose the option that reduces the possibility of loss. This formulation is based on the tendency of loss aversion built by Kahneman and Tversky (1979). The second is reducing the decision-making time; this hypothesis is based on the so-called shortcuts formulated by Kahneman, Slovic, and Tversky (1982). These hypotheses were built with the theoretical basis of the Theory of Rational Decisions and Behavioral Economics. The experiment had the participation of 21 classes and 446 undergraduate students of Economics, Management, and Accounting, involving exposure to an economic scenario and two candidates. The voters should choose the best choice available.

Referências

CARLI, Linda L. Gender and Social Influence. Journal of Social Issues.Vol.57, Nº 4. 2001, p. 725-741.

DAVIS, Douglas D.; HOLT, Charles A. Experimental Economics: Method, Problems and Promise. ECco, v. 8 (2), p. 179-212, 1993.

DAVIS, Douglas D.; HOLT, Charles A. Experimental Economics. Princeton University Press, 1993. DRUKMAN, J.;GREEN, D.; KUKLINSKI, J.; LUPIA, A. Cambridge Handbook of Experimental Political Science. Cambridge: Cambridge University Press. p. 562, 2011.

FLORES, G. Economia Comportamental e Experimental: método, desenho de experimentos e tratamento epistemológico. 2012. Available in: http://www.lume.ufrgs.br/handle/10183/65209. Acesso em 12 de Julho de 2015. FRANK, Robert H. Microeconomia e Comportamento. Editora McGRAW-HILL de Portugal, 1994.

HOPKINS, D; PETTINGILL, L. Economic Voting in Big-City U.S Mayoral Elections.2015. Available in: http://ssrn.com/abstract=2567294. Acesso em 08 de Julho de 2015.

KAHNEMAN, D. Maps of Bounded Rationality: A Perspective on Intuitive Judgment and Choice. Prize Lecture, December 8, 2002.

KAHNEMAN, D.; KNETSCH, J.; THALER, R. Anomalies: The Endowment Effect, Loss Aversion and Status Quo Bias. The journal of Economic Perspectives, v. 5 (1), p. 193-206, 1991.

KAHNEMAN D., SLOVIC P., TVERSKY, A. Judgment Under Uncertainty: Heuristics and Biases. Cambridge University Press. p. 294–305, 1982. KAHNEMAN D., TVERSKY, A. Choices, values and frames. American Psychologist, v. 39, p. 341-350, 1984.

KAHNEMAN, D.;TVERSKY, A. Prospect Theory: An Analysis of Decision under Risk. Econometrica, v. 47 (2), p. 263-291, 1979.

KAHNEMAN, D. Rápido e Devagar: Duas Formas de Pensar. Objetiva, 2011. KOERBER, C. P., & NECK, C. P. Groupthink and sports: an application of Whyte‘s model. International Journal of Contemporary Hospitality Management, v.15, 2003, p. 20-28.

LAU, R.; ANDERSEN, D.; REDLAWSK, D. An Exploration of Correct Voting in Recent U.S. Presidential Elections. American Journal of Political Science, v. 52, No. 2, April 2008, p. 395–411.

LAU, R.; LEVY, J. Contributions of Behavioral Decision Theory to Research in Political Science. Applied Psychology: An International Review, 1998, p. 29-44.

LAU, R.; REDLAWSK, D. How Voters Decide: Information Processing During an Election Campaign. New York: Cambridge University Press. 2006.

LAU, R.; REDLAWSK, D. Voting Correctly. American Political Science Review. 1998, v. 91, nº 3, p. 585 – 598.

LIMA, I.; GOSLING, M.; MATOS, E. Marketing Político: a Construção da Imagem do Candidato Ideal. Apresentado no III Encontro de Marketing da ANPAD. Curitiba – PR, 14 to 16 of May 2008.

LIST, J. Neoclassical Theory versus Prospect Theory: Evidence from the Marketplace. Econometrica, v. 72, p. 615-625, 2004.

MARSHALL, Alfred. Princípios de Economia: tratado introdutório. 2. Ed São Paulo: Nova Cultural, 1985. (Os economistas).

MEIRELES, Fernando. Teoria da escolha racional: limites e alcances explicativos. João Pessoa: CAOS - Revista Eletrônica de Ciências Sociais, n. 22, p. 52 – 61, dez. 2012. Available in: <http://www.cchla.ufpb.br/caos/n22/7.%20teoria%20da%20escolha%20racional.%20fernando%20meireles.pdf>. Acess in: 19th June 2015.

REDLAWSK, D.; LAU, R. Oxford Handbook of Political Psychology. 2012. Chapter 3: Behavioral Decision Making.

REDLAWSK, D.; MCCANN, J.How voters see political corruption: Definitions and beliefs, causes and consequences. Presented in: Annual meeting of the Southwestern Political Science Association, New Orleans, LA, March 28-30, 2002.

RUDMAN, Laurie A.; GLICK, Peter. Prescriptive Gender Stereotypes and Backlash Toward Agentic Women. Journal of Social Issues. v. 57, nº. 4, 2001, p. 743–762.

SCHNELLENBACH, J.; SCHUBERT, C. Behavioral Political Economy: A Survey. CESifo Working Paper nº 4988. 2014.

SIMON, H. Administrative behavior. 2. Ed. New York: The Free Press, p. 259, 1957. SIMON, H.Rational Decision-Making in Business Organizations. Nobel Memorial Lecture, 8 December, 1978.

WORLD BANK GROUP (2015) World Development Report 2015: Mind, Society, and Behavior. Washington, DC: World Bank. © World Bank.

Downloads

Publicado

2020-01-22

Como Citar

Rodrigues Leiria, I. R., & Alves, T. W. (2020). Rationality in decision-making: the effect of economic scenarios on voters’ decisions / A racionalidade na tomada de decisão: o efeito de cenários econômicos na decisão de eleitores. Brazilian Journal of Business, 2(1), 113–136. Recuperado de https://ojs.brazilianjournals.com.br/ojs/index.php/BJB/article/view/6272

Edição

Seção

Artigos