Theoretical and scientific approaches to behavioral economics in the context of social transformation

Modern economic processes, with their dynamism, complexity, and unpredictability, often surpass the explanatory power of traditional economic theories. These theories, while valuable, can be insufficient in understanding the behavior of business entities and predicting future trends. This inadequacy underscores the growing relevance of behavioral economics, which integrates the achievements of psychology, cognitive sciences, and sociology into economic analysis. Behavioral economics studies how psychological factors, such as emotions, cognitive biases, social norms, and personal values, influence economic decision-making. It reveals that people do not always act rationally, as assumed in classical economic models. Instead, their behavior is often driven by emotional reactions, cognitive limitations, and the influence of the social context. The ongoing transformational shifts, mainly digital transformation, profoundly impact the behavior of business entities and the labor market. Changes in technology, communications, and business organization lead to new forms of employment, new employee requirements, and new consumption patterns. Digital transformation promotes the development of e-commerce, remote work, online education, and other forms of economic activity that change traditional ideas about work, consumption, and human interaction. In this context, traditional management and marketing methods are becoming less effective. Businesses must adapt to new conditions, consider behavioral factors when developing products and services, and use digital tools to interact with customers and partners. Behavioral economics is crucial in understanding and managing economic processes in transformational shifts. It is instrumental in developing more effective economic policies by considering the psychological and social factors influencing human behavior. Further research in the field of behavioral economics is vital for predicting future economic trends and adapting to them. Keywords: digital transformation, behavioral economics, business entities, interdisciplinary approach, economic science.