UDC: 330.16
https://doi.org/10.25198/2077-7175-2019-2-84


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THE RATIONALITY OF ECONOMIC ACTIVITY FROM THE POSITION OF THE NEW INSTITUTIONAL ECONOMIC THEORY

I.V. Shcherbakov

Samara State University of Communications, Samara, Russia

e-mail: ig063@mail.ru 

Abstract. The paper is constructed as methodological approach, in which is bounded rationality of the individual in economic activity is considered depending on the psychological costs. Rationality is presented as a person's ability to self-determination of economic activity by searching for them economic problems, the optimal complexity for him. This approach allows us to assess the impact of institutions on the rationality of individual behavior. In the article the economic interpretation of the ideas of Erich Fromm on how the person forms orientation system, by identifying with the existing institutions, or on the basis of knowledge of the economic system. It is proved that effective institutions raise the level of human rationality in the economy.

Keywords: institutions, psychological costs, rationality, the ability of the individual transaction costs.

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