2008•Journal of Guangxi University of Finance and EconomicsRequires access

The Impact of Policymaker 's Irrational Behavior on Government Investment Decisions

Haung Wei-gan

Abstract

Based on the theory of behavioral economics,policymaker's irrational behaviors such as overconfidence,frame dependence,vicious capital increase,herd behavior and so on are likely to exert a passive influence on their decisions,which often results in wrong decisions in the government investment.Policymakers may reduce this passive impact with the knowledge of irrational behaviors.

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Key concepts: Irrational number, Overconfidence effect, Economics, Government (linguistics), Investment (military), Investment decisions, Microeconomics, Herd behavior