Individual Behaviour and Economic Performance: Methodological Challenges and Institutional Context

Project Information

IBEP

Grant agreement ID: 952574

DOI

10.3030/952574

Project closed

EC signature date 10 June 2020

Start date 1 September 2020

End date 31 August 2023

Funded under

• Twinning of research institutions

Total cost

€ 900 000,00

EU contribution

€ 900 000,00

Coordinated by

TALLINNA TEHNIKAÜLIKOOL
Estonia

Periodic Reporting for period 2 - IBEP (Individual Behaviour and Economic Performance: Methodological Challenges and Institutional Context)

Reporting period: 2021-12-01 to 2023-08-31

Summary of the context and overall objectives of the project

The project aims at 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 health characteristics 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 and enhanced economic performance. The project is a joint effort of economics, finance, practical philosophy and psychiatry 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.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

Project IBEP has been productive and successful despite the obstacles that the COVID-19 pandemic has set on some of the initially planned onsite visits and other plans. The networking and capacity building agenda of IBEP has comprised a comprehensive set of interrelated activities: joint grant applications; several short term staff exchange and expert visits; mentoring of seven TalTech scholars by leading researchers of the partners; their advising or acting as opponent for ten doctoral researchers from TalTech; conferences held at Tel Aviv University and University of Helsinki and the annual conference series "Evolving Challenges in European Economies" (ECEE) at TalTech; summer schools on various methodological, theoretical and applied topics of IBEP; research seminars at TalTech and other partners; intra-consortium workshops on methodological aspects, grant writing and experimental research; consultations with partners towards strengthening research management and administration skills and practices at TalTech; and intersectoral communication and interaction with national and regional authorities. The TalTech IBEP team has delivered 13 published papers that have benefited from the IBEP activities.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

As a joint effort of economics, finance, practical philosophy and medical sciences researchers, the cohesive consortium provides a unique platform for achieving novelty and excellence in research. The project has been successful in identifying interdisciplinary research collaboration areas between the partners, preparing joint grant applications and research proposals setting novel research agenda beyond the state of the art. The project has enhanced the research abilities of the individuals involved through research capacity building, networking and other collaborative activities to plan, undertake, manage and disseminate leading edge research in international and interdisciplinary consortiums on the topic areas of the project, and influence policy makers and other stakeholders.

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