Individual Behavior and Economic Performance

The project aims at generating a better understanding of linkages between individual behaviour and economic performance. IBEP is a project led by Tallinn University of Technology (TalTech, Estonia) in collaboration with internationally leading counterparts Aalto University (Aalto, Finland), University of Helsinki (UH, Finland) and Tel Aviv University (TAU, Israel).
• Horizon 2020 Grant No. 952574
• Funding EUR 900,000
• Project leader Prof. Aaro Hazak (TalTech)

The project aims at generating a better understanding of linkages between individual behaviour and economic performance. Behavioural economics has deepened our understanding of various deviations from rationality in economic performance. Economic outcomes of prevalent individual differences in cognitive capacity and neurophysiology as well as in beliefs and preferences warrant further investigation. Moreover, better designed economic policy and institutions, which take into account that people are different and their wellbeing responds differently to any given policy measures, leads to better utilisation of human capital endowment and enhanced economic performance. The project is a joint effort of economics, finance, practical philosophy and neuroscience scholars, where several internationally highly renowned professors work under a comprehensive set of networking and capacity building activities together with established and early stage researchers in a stimulating multidisciplinary setting.