How did individual behaviour and the representations of economic players influence the causes of the 2007-2008 financial crisis?

Details

Supervisors

Nouveau, Patricia

Faculty

Faculté des sciences économiques, sociales, politiques et de communication

Degree label

Master [120] en sciences politiques, orientation relations internationales, à finalité spécialisée: enjeux contemporains de la gouvernance globale

Abstract

Since the financial crisis of 2007-2008, a great deal of research has focused on the causes of this phenomenon. Numerous economic currents and theories have provided guidelines for interpreting the causes of this phenomenon. In a review of the literature, we examine the main interpretations of neoliberal, Marxist and Schumpeterian analysis, the study of Kindleberger cycles and the behavioural finance approach. This research aims to study the causes of the 2007-2008 financial crisis from the perspective of behavioural finance and the complex systems approach based on the work of Nassim Nicolas Taleb. Through an empirical analysis of the events and actors central to the financial crisis of 2007-2008, we will identify the behavioural decisions, the influence of representations (narratives), errors of judgement and cognitive biases that may have influenced the actors at the origin of the financial crisis. Finally, we attempt to provide a behavioural interpretation of the political and economic phenomenon of the financial crisis.