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Source text - Serbian Human beings are not always logical. We treat windfall gains differently from our monthly salary. We value things that we already own more highly than equivalent things we could easily buy. Our responses to questions depends very much on how the issue is framed: we think surcharges on credit-card payments are unfair, but believe a discount for paying with cash is reasonable.
None of these foibles will be a surprise to, well, humans. But they are not allowed for in many macroeconomic models, which tend to assume people actually come from the planet Vulcan, all coolly maximising their utility at every stage. Over the past 30-40 years, in contrast, behavioural economists have explored the way that individuals actually make decisions, and have concluded that we are more Kirk than Spock.
In his new book “Misbehaving: The Making of Behavioural Economics”, Richard Thaler describes his struggles to persuade mainstream economists of all this. The results of behavioural research were at first dismissed as trivial, or the consequences of unrealistic laboratory experiments. It was argued that in the real world, ordinary people might not always think straight but that the professionals who make the big decisions would.
At the microeconomic level (the actions of firms and individuals), the behavioural school is now well-established. But the school has struggled to make progress in the field of macroeconomics (the behaviour of the whole economy).
Surely, however, given the failure of most economists to predict the financial crisis, an attempt should be made to incorporate behavioural insights at the macro level. Mr Thaler has one suggestion: give people tax rebates in increments, rather than one-off payments, and they are more likely to spend them than save them. It is a modest start but, for bright young economists, this field is the way to go.
Translation - English Ljudska bića ne razmišljaju uvek logično. Drugačije se odnosimo prema iznenadnoj dobiti nego prema mesečnoj plati. Više vrednujemo stvari koje posedujemo nego iste takve stvari koje bismo mogli s lakoćom da kupimo. Naši odgovori na pitanja mnogo zavise od načina na koji su nam stvari predstavljene: mislimo da doplata za plaćanje kreditnom karticom nije fer, a verujemo da je popust za plaćanje kešom razuman.
Nijedna od ovih bubica neće iznenaditi, pa, ljude. Ali one se ne uzimaju u obzir u mnogim makroekonomskim modelima koji obično pretpostavljaju da ljudi zapravo dolaze sa planete Vulkan, hladnokrvno povećavajući svoju korisnost na svakom stupnju. Nasuprot tome, tokom poslednjih 30-40 godina, bihevioristički ekonomisti su ispitivali na koji način pojedinci zapravo donose odluke i zaključili da smo više Kirk nego Spok.
U svojoj novoj knjizi “Nedolično ponašanje: Stvaranje Biheviorističke ekonomije” Ričard Tejler opisuje svoju borbu da vodeće ekonomiste ubedi u sve ovo. Rezultati biheviorističkih istraživanja su isprva bili odbačeni kao trivijalni ili kao posledica nerealnih laboratorijskih eksperimenata. Tvrdilo se da u stvarnom svetu obični ljudi možda neće uvek razmišljati ispravno, ali da profesionalci koji donose važne odluke hoće.
Na nivou mikroekonomije (akcije firmi i pojedinaca) bihevioristička škola je sada već utemeljena. Ali ova škola ima probleme sa napredovanjem na polju makroekonomije (bihevioristički pristup čitavoj ekonomiji)
Svakako, ipak, budući da većina ekonomista nije uspela da predvidi finansijsku krizu, treba pokušati priključivanje biheviorističkih shvatanja makro nivou. G. Tejler ima jedan predlog: dajte ljudima povraćaj poreza u delovima, umesto jednokratnog isplaćivanja, i veća je verovatnoća da će to potrošiti nego uštedeti. To je skroman početak, ali za pametne, mlade ekonomiste je to pravi put.
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Master's degree - Faculty of Philology
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Years of experience: 7. Registered at ProZ.com: Aug 2017.
I'm a graduate of English language and literature. When it comes to my professional experience, I have usually translated various texts from English to Serbian (my native language), or vice versa. Also, we translated a lot during the undergraduate and graduate studies and we covered various sorts of texts; in fact, English-Serbian and Serbian-English translations were my favorite subjects and I believe it really helped me prepare for the professional translation.
There are of course other things that interest me, such as literature (particularly science fiction literature), history, music, movies, sports, etc. and it would really be a pleasure doing research and translating any of the given topics.
Since I have spent the last 18 years of my life studying, I don't have a lot of work experience; but, what I lack in experience, I compensate in enthusiasm and passion!
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