Applying Behavioral Economics theories as new perspectives towards socio- economics issues and technology disruptions of youth in Sarawak

Mark Kedit, Noel Johntan and Evan, Lau (2023) Applying Behavioral Economics theories as new perspectives towards socio- economics issues and technology disruptions of youth in Sarawak. In: BORNEO BUSINESS RESEARCH CONFERENCE (BRRC 2023), 23 August 2023, Raia Hotel Convention Centre, Kuching.

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Abstract

The involvement of the youth in many socio-economics problems is concerning for the country as it could pose huge threat towards the country’s health and its people. The hidden huge problems such as illegal activities among youth in Sarawak poses many dangers that a nation may collapse due to its inability to contain an underlying problem. Some of the highlighted illicit activities such as illegal gambling, consumption of banned or illegal products, and other involvement in dangerous activities that may be influenced by the internet. The other concerning problem in the rural areas in Sarawak is the rural youth education level. Over the years, rural youth has been left out in terms of infrastructures and facilities to enjoy the same par as for the urban youth. With lower expectation and opportunities hindering them in achieving similar success compared to the youth in urban areas. Adding to that, with lower exposures of real-life decision and goals, the motivation between rural and urban youth is greatly differ as achieving more in life seems impossible task that leads towards lower expectation in life. Having said so, in the current technological advanced era, where rural and urban both are digitally inclusive may drift the intention or focus of education that it is no longer viewed as necessary rather optional which in the long run can impose bigger problem of under- achieving society living in the modern cities. Most of the problems are technology- related, that instead of seen as the opportunity to solve many modern problems that it creates bigger underlying problems that sparked by human irrationality. The aim of the thesis is to investigate the behavioral changes imposed by youth influenced by the technology disruption and their response towards the changes. The emerging topics in the field of behavioral economics such as nudge theory, choice architectures are among many theories that will be used and applied in the real life situation of the youth. The significant of the study will be crucial to determine behavioral changes among the youth towards the instillation of behavioral economics terms that could potentially be useful for understanding the behavioral changes and its adaptation towards the youth behavior.

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