CORDIS

Individual Behaviour and Economic Performance: Methodological Challenges and Institutional Context is a project led by Tallinn University of Technology (TalTech, Estonia) in collaboration with internationally leading counterparts Aalto University (Finland), University of Helsinki (Finland) and Tel Aviv University (Israel). The project aims at networking between the partners for research capacity building at TalTech and achievement of lasting synergies in the consortium in the academically and societally promising area of generating a better understanding of linkages between individual behaviour and economic performance. Behavioural economics has deepened our understanding of various deviations from rationality in economic performance. Economic outcomes of prevalent individual differences in cognitive capacity and neurophysiology as well as in beliefs and preferences warrant further investigation. Moreover, better designed economic policy and institutions, which take into account that people are different and their wellbeing responds differently to any given policy measures, leads to better utilisation of human capital endowment and enhanced economic performance. The project is a joint effort of economics, finance, practical philosophy and neuroscience scholars, where several internationally highly renowned professors work under a comprehensive set of networking and capacity building activities together with established and early stage researchers in a stimulating multidisciplinary setting. The cohesive consortium provides a unique platform for achieving novelty and excellence in research and developing the research profile of TalTech and its team by integrating TalTech and the partners into a highly functional and unique interdisciplinary partnership. The value of the project builds on a societally challenging research field, advanced contemporary research methodology and cost-efficient knowledge transfer activities for long-lasting effects in research excellence.