Consequences of Covid 19 – Behavioral approaches on the financial well-being, theoretical concepts
Consequences of Covid 19 – Behavioral approaches on the financial well-being, theoretical concepts
Author(s): Irini Goga, Mikel QafaSubject(s): Behaviorism, Family and social welfare, Socio-Economic Research
Published by: Shtëpia botuese “UET Press”
Keywords: financial well-being; Covid 19 - subject of well-being; economics of happiness; prospect theory; financial knowledges;
Summary/Abstract: With many businesses unable to operate normally due to widespread government-imposed lockdowns, people confront a reshape of their financial behavior. In this article we review literature to analyze the theoretical foundations of financial well-being. The ongoing current worldwide recession worries about inadequate savings, consumerism and debt accumulation are all contributing to the increase in financial stress. We follow a qualitative-descriptive method based on a broad literature review and chronological analysis. This study will contribute to favor of establishing a theory of financial well-being to define, measure, and analyze it comprehensively. The creativity of this work lies in describing and contrasting several theoretical foundations together instead of addressing them separately. Our results are of interest to those involved in research about financial well-being, subjective well-being, and the economics of happiness.
Journal: ECONOMICUS
- Issue Year: 21/2022
- Issue No: 1
- Page Range: 21-35
- Page Count: 15
- Language: English