Homo Economicus in the Internet Age: Russia and US Comparative Analysis

75
DOI: 10.20542/0131-2227-2022-66-12-69-79
MGIMO University, 76, Vernadskogo Prosp., Moscow, 119454, Russian Federation;
Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO), 23, Profsoyuznaya Str., Moscow, 117997, Russian Federation.

Received 15.09.2022. Revised 21.09.2022. Accepted 01.10.2022.

Abstract. The article examines the dynamics of Internet search queries in the American and Russian segments of Google. The data are used to analyze common and different patterns of behavior of the population of the two countries. The role of globalization and unification of the system of economic institutions in the process of their convergence is shown. The author discusses the stability of the perception of certain economic concepts that accompany the search activity of the population on the Internet. The article notes the multiplicity of factors that at a particular point in time can determine the economic behavior of people. According to the author, all this diversity can be attempted to be reduced to three main groups of factors. First, behavior will largely depend on the meaning people put into their actions, how they evaluate and define them. Each deed or action is reflected in language, forming a unit of meaning that allows people to construct social communications, including resorting to Internet searches. Secondly, economic actions depend on the motivations underlying them, which, in turn, are the result of the correlation of goals and opportunities to do this or that. Third, economic behavior depends to a large extent on the development of the institutional system, which determines the different types and breadth of possible economic behavior of people. The author analyzes the dynamics of search requests according to these groups of factors. The author believes, the study of the economic behavior of the population of different countries, can serve as a starting point for assessing its adaptive capacity in the face of economic shocks.

Keywords: Russia, USA, economic behavior, internet, internet searches, big data, money, job, finance


REFERENCES

1. Fukuyama F. Culture and Economic Development: Cultural Concerns. International Encyclopedia of the Social & Behavioral Science. 2001, pp. 3130-3134. DOI: 10.1016/B0-08-043076-7/04584-8

2. Henrich J. et al. “Economic Man” in Cross-Cultural Perspective: Behavioral Experiments in 15 Small Societies. Behavioral and Brain Science, 2005, vol. 28, no. 6, pp. 795-815. DOI: 10.1017/S0140525X05000142

3. Granovetter M. Economic Action and Social Structure: the Problem of Embeddedness. American Journal of Sociology, 1985, vol. 91, no. 3, pp. 481-510. DOI: 10.1086/228311

4. Henchoz C., Coste T., Wernli B. Culture, Money Attitudes and Economic Outcomes. Swiss Journal of Economics and Statistics, 2019, vol. 155, art. 2. DOI: 10.1186/s41937-019-0028-4

5. Tarde G. The laws of imitation. Moscow, Academic project, 2011. 304 p. (In Russ.)

6. Fama E. Inflation Is Totally out of the Control of Central Banks. 10.08.2020. Available at: https://themarket.ch/english/inflation-is-totally-out-of-the-control-of-central-banks-ld.2476 (accessed 16.09.2022).

7. Loewenstein G., Thaler R.H. Anomalies: Intertemporal Choice. Journal of Economic Perspectives, 1989, vol. 3, no. 4, pp. 181-193. DOI: 10.1257/jep.3.4.181

8. Kahneman D., Thaler R. Economic Analysis and the Psychology of Utility: Applications to Compensation Policy. Papers and Proceedings of the Hundred and Third Annual Meeting of the American Economic Association. The American Economic Review, 1991, vol. 81, no. 2, pp. 341-346. DOI: 10.2307/2006882

9. Rand A. Atlas shrugged. Moscow, Alpina Digital, 1957. 919 p. (In Russ.)

10. Keynes J.M. The general theory of employment, interest and money. Moscow, Helios ARV, 2002. 352 p. (In Russ.)


SOURCES

1. Google Trends. Available at: https://trends.google.com (accessed 16.09.2022).

2. Internet Live Stats. Available at: https://www.internetlivestats.com/one-second/#google-band (accessed 16.09.2022).

3. Google Ngram Viewer. Available at: https://books.google.com/ngrams/ (accessed 16.09.2022).

4. National payment system. Bank of Russia. (In Russ.) Available at: https://www.cbr.ru/eng/statistics/nps/ (accessed 16.09.2022).

5. Yahoo Finance. Available at: https://finance.yahoo.com/quote/IMOEX.ME/history?p=IMOEX.ME (accessed 16.09.2022).

6. Trading Economics. Available at: https://tradingeconomics.com/russia/stock-market (accessed 16.09.2022).


For citation:
Milovidov V. Homo Economicus in the Internet Age: Russia and US Comparative Analysis. World Eсonomy and International Relations, 2022, vol. 66, no. 12, pp. 69-79. https://doi.org/10.20542/0131-2227-2022-66-12-69-79



Comments (0)

No comments

Add comment







Indexed

 

 

 

 

Dear authors! Please note that in the VAK List of peer-reviewed scientific journals, in which the main scientific results of dissertations for the degree of candidate and doctor of sciences should be published for the “MEMO Journal” the following specialties are recorded:
economic sciences:
5.2.5. World Economy.
5.2.1. Economic Theory
5.2.3. Regional and Branch Economics
political sciences:
5.5.4. International Relations
5.5.1. History and Theory of Politics
5.5.2. Political Institutions, Processes, Technologies

 

Current Issue
2024, vol. 68, No. 12
Topical Themes of the Issue:
  • Mechanisms of International Financial Relations in the Conditions of Globalization Crisis  
  • “New” Militarization of Europe?
  • Foreign Economic Policy of Germany: African Vector
  • Transformation of the Conflict Field in Abkhazia: Contemporary Politics and Historical Context
Announcement

Dear authors of the journal!

Please note that the author's copies of the issues in which your texts are published are kept in the editorial office for no more than one year. After this period expires, the editorial office has the right to dispose of unclaimed copies at its own discretion.

 

Submit an Article
INVITATION FOR PUBLICATION
The Editorial Board invites authors to write analytical articles on the following topics:
  • changes in the processes of globalization in modern conditions
  • formation of the new world order
  • shifts in civilization at the stage of transition to a digital society

The editors are also interested in publishing synthesis articles / scientific reviews revealing the main trends in the development of certain regions of the world - Latin America, Africa, South Asia, etc.