economic behavior, behavioral economics, economic security, risk, war, economic decisions


Definitions of the concepts "economic behavior of a person" and "economic security of a person" are proposed. The economic behavior of a person is defined as a set of motives and economic decisions made by a person under their influence, which determine the priority and degree of importance of satisfying his economic needs, and the means and tools that will be used to cover them. The economic security of a person is understood not as the absence of economic challenges, dangers and risks for a person, but as the state of his/her economic life, which was the result of his/her rational economic behavior, and allows satisfying his/her economic needs and interests. Relationships between economic behavior and economic security of a person have been established. It is argued that economic behavior is determined by the conditions in which a person grew up and lived, and found himself at a specific moment in time. Economic behavior depends on the external environment ‒ the state economic policy, the development of the social sphere, the presence or absence of military actions, the development of technological system, the level of integration of the national economy into the global competitive space, the quality of education, etc. On the other hand, patterns of economic behavior are formed under the influence of psychological characteristics of a person's perception of the world, his/her upbringing, the level of well-being and the model of handling financial resources that were inherent in the family in which a person was born. The structural elements of a person's economic security are characterized and the motives of economic behavior and factors influencing the state of economic security of a person in war conditions are summarized. The components of human economic security include: financial, informational, material, social, intellectual, communicative, legal, physical, technological, food components. The main motives of economic behavior of people during the war are: the need to save financial resources, the desire to restore spent savings; fear of an unknown economic future; search for alternative sources of income; the desire and need to help loved ones, including financially; predatory and parasitic perception of external financial and material help. Peculiarities of economic behavior of people are established, taking into account the realities of the military situation and the influence of threats and risks of war.


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Author Biography

Nataliia Zachosova, Bohdan Khmelnytsky National University of Cherkasy

Doctor of Science (Economics), Professor, Professor of the Department of Management and Public Service, Bohdan Khmelnytsky National University of Cherkasy, Cherkasy, Ukraine


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How to Cite

Zachosova, N. (2023). ECONOMIC BEHAVIOR AND ECONOMIC SECURITY OF AN INDIVIDUAL IN THE CONDITIONS OF WAR RISKS. Economics, Finance and Management Review, (1), 13–27.



Chapter 1. Current trends in economic development