Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)

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Examining Individuals Irrational Behavior in Economic Bubbles

Authors
Donglai Wang1, *, Ke Hu2, Hengyuan Liu3
1Rochester University, Rochester, 14627, NY, USA
2Rochester University, Rochester, NY, 14627, USA
3Guangzhou College of Technology and Business, Guangzhou, China
*Corresponding author. Email: 34673528@qq.com
Corresponding Author
Donglai Wang
Available Online 31 December 2022.
DOI
10.2991/978-94-6463-036-7_176How to use a DOI?
Keywords
Irrational behavior; Economic bubble; Human choice; Behavior economics
Abstract

Although it has long been agreed that traditional economic theory assumes rational behavior, at one time there was considerable disagreement over the meaning of the word “rational”. To many, the word suggested an outdated psychology, lightening-fast calculation, hedonistic motivation, and other presumably unrealistic behavior. No matter who we are and what social class, understanding how we are predictably irrational can provide a starting point for improving our decision making economically. In this study, we as human nature would behave predictably irrational in the situations due to the influences of outside environments and inside of our human emotions such as three economic bubbles that this paper studies are the Dot-Com bubbles, Japanese housing bubbles, and United State housing bubbles. This study shows that individuals should improve their own independent thinking in making their decisions through understanding the idea for making our own decisions that they are neither random nor senseless.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
31 December 2022
ISBN
978-94-6463-036-7
ISSN
2352-5428
DOI
10.2991/978-94-6463-036-7_176How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Donglai Wang
AU  - Ke Hu
AU  - Hengyuan Liu
PY  - 2022
DA  - 2022/12/31
TI  - Examining Individuals Irrational Behavior in Economic Bubbles
BT  - Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
PB  - Atlantis Press
SP  - 1195
EP  - 1198
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-036-7_176
DO  - 10.2991/978-94-6463-036-7_176
ID  - Wang2022
ER  -