BEHAVIORAL INSTITUTIONS OF THE DIGITAL ECONOMY: IMPACT ON HUMAN BEHAVIOR, TRANSFORMATION OF PROPERTY RELATIONS AND LEVELS OF TRUST
Authors: OSETSKYI VALERII , OSETSKA DIANA V. , DEMYDIUK OLGA 
Published: June 2023

Goal. The article discusses the main features of behavioral economics as a new section of economic theory. The new direction in theory is a reflection of the actual change in the model of human behavior, the impact of the digital economy on the individual and the transformation of property relations under the influence of the market environment, which brings to the fore the issues of recognition of rules, the definition of reputation as a level of trust and economic ethics. It is shown that serious shifts in property relations in the behavioral economy act as evidence of the profound nature of the changes in the institution of property rights under the influence of ethical, social, psychological and other behavioral assumptions in economic behavior. Methodology. The study is based on dialectics as a scientific and philosophical method of knowledge, a systematic approach, analytical and expert economic method. First of all, behavioral economics relies on observation and experimentation. A distinctive feature of modern research methods has been the development of an economic model of human behavior based on and influenced by empirical facts collected in the field of behavioral and experimental economics. In essence, the paper uses an interdisciplinary methodology, formed by the efforts of both economists and psychologists, is an example of productive interaction between theoretical and experimental sciences. Results. The article systematically and comprehensively analyzes the specificity of behavioral institutions inherent in the digital economy. It has been revealed that academic economists have come to the realization that not only economic, but also all social institutions, the system of norms and rules, moral values are not only important, but vital for the transformation of all types of property, at the same time the role of the institute of property rights is increasing. It is proved that moral norms are not enough to ensure a climate of trust in the economy. It has been argued that it is especially important to minimize transactional losses by achieving a high level of trust of all agents in the leading economic institutions in conditions of decline in economic and business activity. Scientific novelty. Theoretically proved that behavioral economics is formed as a new intellectual platform of scientific community, a new type of scientific thinking, explicitly taking into account psychological, moral and other behavioral assumptions in economic behavior. It is proved that today the digital economy fundamentally changes the model of the institution of property rights, forms innovative business models, which become an important core of behavioral economics. It is indicated that trust forms the reputation of the subjects and institutions of the behavioral economy. Practical Significance. The practical conclusions of the article are that behavioral economics is a new and promising area of research, which has proposed a completely new model of the individual in the economy and has largely changed the view of modern economic science. Behavioral economics has shown and proved how much human behavior in real life deviates from ideal rational behavior. The reasons for modification of the human model in economics under the influence of various economic, social, psychological and other factors are given. In behavioral economics the problem of formation of new forms of realization of institute of property rights is actual, and any paradigm of behavioral economics should solve the problem of trust in interrelations between economic subjects in preservation of property rights system.