Behavioural Economics in Higher Education Institution - Business Collaboration Paradigm in Context of Global Competition

¹ EKA University of Applied Sciences, 1/5 Lomonosova street, Riga LV-1019, Latvia
² Turiba University, 68 Graudu street, Riga LV-1058, Latvia

^* Corresponding author: velga.vevere@gmail.com

Abstract

Research background: More than ever before governments, education institutions, industries, researchers and civilians are setting indebted attention to discover and learn more about behavioral science. The recent advancements in applying behavioral economics to the sphere of higher education show that building partnerships among educational institutions involves specific skills, strategies and knowledge that parties must know and use. Different industry representatives are scouting Higher Education Institutions for an ever-expanding set of innovation activities. Government invest more and more efforts to create innovative ecosystems where higher educational institutions are main stake holders in this special community between industries, corporations, governmental institutions, entrepreneurs and investors. The partnership involves adopting a management based on cooperation and change, communication and awareness of diversity. However, university-business cooperation is still a fragmented and indistinct field of research, and the understanding of UBC remains inadequate since most research is undertaken around specific elements, rather than as an encompassing, overarching and interconnected system Purpose of the article: To research the undergraduates’ appraisal of Higher Education Institution and Business collaboration.

Methods: Expert interviews and undergraduate students’ survey using 7-point Likert scale questionnaire (non-probability snowball sampling method).

Findings & Value added: Through evaluation of different statements about Higher Education Institution – Business collaboration, we discover distinctive statement importance and advancement according to respondent current views. This knowledge facilitates author’s capability to develop and advise nudges which can be applied in performance of such collaboration.