Migration Processes in the Context of Behavioral Economics Theories

Abstract

The aim of this article is to investigate the connection between behavioral economy and migration processes. Behavioral economics is a relatively new phenomenon in science and the fact that some research in this area has earned the Nobel Prize makes its contribution significant in the consideration of economic processes. The analysis of sources shows that in the field of Russian studies there is practically no mention of the fact that migration behavior can be explained by the behavioral economics theses. In this article, we explore several key ideas in this area: nudge theory, prospect theory, evolutionary game theory, cognitive distortion, and hedonistic adaptation. In this article, we put forward a hypothesis that migration processes can not only be explained from the standpoint of behavioral economics but can also be regulated using the tools of this direction. Behavioral economics can be the key for discovering the dynamics and true motives of migration. The analysis of information in this area shows, that a person makes decisions mainly based not on the laws of logic and rationalism. Paradoxes such as cognitive biases, etc. reduce the effectiveness of an individual's actions and provide an incentive for the scientific community to expand the number of empirical studies of migration processes within the framework of behavioral economics theories.