Behavioral economics and COVID-19: A social interpretation of reality

Abstract

From the knowledge of the Behavioral Economy, the present essay aims to analyze the manifestations of the current and future behaviors of individuals, based on the new social conditions generated by the COVID-19 pandemic. To do this, a selection was made of the main authors of behavioral economics. The analytical-synthetic method was applied. The main units of analysis and their causal explanations (rationality, biases, nudges) were then used to interpret social behavior. The results point to the possibilities of using scientific knowledge to obtain good behavioral practices, fostering opportunities to mitigate the effect of the pandemic. The conclusions emphasize the need to overcome positivist, rationalist and deterministic limits in the conception of human nature; the social sciences have to promote the critical analysis of these conditions and project the mechanisms that guarantee an existence in the new environment, based on interdisciplinarity and a complex approach in the analysis of reality. It is concluded that Behavioral Economy has the potential for analysis and adjustment in future public policy decisions, therefore their knowledge and experiences must be applied to minimize the effect on human beings and the economy.