The paper presents the background analysis of the formation of human model in economics. in the conditions of the constantly performing development of the economic science until the neoclassic paradigm and its modifications. Among them is behavioural finance, which presents a special interest for modern researchers. The evolution of the model of making economically significant decisions in inter-temporal and essential dimensions is the subject matter of the research. We have shown that the concept of the economic human model itself is the multidimensional one. In parallel with the processes of economical, social and political changes and economic science development, the economic human model was becoming more complex and relevant for each period of time. In this regard, we followed the stages of defining the concept of “subject rationality”. The study determines the significant traits implemented by researchers to create a full and consistent human model. We demonstrate the gradual development of economists’ idea of different types of the motivation of economic agents. Along with the financial factors of motivation, the scientists begin to take into account non-financial ones. This approach can help researchers get more “humanistic” view at the economic human. The modern concept of the economic human with attention to its implicit restrictions is formed through the complication of requirements to the rationality and its components crystallization. In the paper, we characterize contribution of the domestic scientists to the development of new directions of economic theory. The research describes the role of different regional economic scientific schools in the process of the formation of the Russian behavioural finance school

The article considers Karl Marx, an outstanding thinker, who thanks to his knowledge of philosophy, history, and economics has managed to predict the stages and forms for economic, social and, substantially, spiritual development of peoples. His vision of the future is based on the thoughtful, real, and significant understanding of the economic activity of human society. Generally, the scientific community with rather deep and sincere respect paid attention to his ability to expect the future for centuries forward. This article is not just a tribute to the 200 anniversary since the birth of the genius. Now in the 21st century, K. Marx’s anniversary is, first of all, the recognition of his genius. Living now, we see the economic, social and spiritual development of humanity in the conditions of convergence of science, education, quality of life, human health, warm-heartedness and credibility in overcoming even small challenges. We strive for a careful attitude to nature, rational use of its gifts and natural wealth. Only in such harmony, the mankind will have a happy future.

The article analyzes the contradictions that have developed on the modern stock market. Markets are becoming more volatile, which creates conditions for manipulating prices on individual financial instruments. The institutional regulation does not solve these problems and, ultimately, is limited to an ineffective control over the markets by regulators and the search for new options for economic imbalances by economic agents. We introduce the terminology and justify the notion of «dominant economic agent». The emergence of dominant economic agents is viewed through the instability of the global financial system, through the access of this category of market participants to unique information technologies, when the opportunities to take advantage of information asymmetry give even greater volatility (variability), primarily, to the financial market and its instruments. Increased volatility attracts new economic agents to the financial market. The role of the dominant economic agents is only increasing. Such an unstable equilibrium develops on the market, when any competitive advantage from a local one can turn into a key one. We investigated the mutual influence and interpenetration of the postulates of the theory of effective financial (stock) markets and the theory of asymmetric information. The hypothesis of the research is based on expert assessments and the practice of financial instruments circulation. Furthermore, the hypothesis confirms that the levels of stock markets efficiency associated with the receipt of new information are erased due to the subjective behaviour of the dominant economic agents. It is not possible to prove that the actions of the dominant economic agents, through the high volatility of financial instruments and individual market segments, lead to the manipulation of the market within the framework of the existing regulatory standards. However, it is undeniable that an excessive volatility of certain financial assets creates problems for accelerating market transformations and institutional changes in the Russian economy. Under current conditions, we recommend solely passive asset management strategies, where fixed-income instruments are basic, and the investor does not need to track the dynamics of changes in their prices, and the effect of information asymmetry is minimized. We have proposed and justified a modern interpretation of investment risk. This interpretation suggests taking into account not only the market dominant, but also the behavioural component. This component is based on the psychology of the agent’s behaviour on the market, and also on the asymmetry of information on the financial markets that dominate economic agents. The results of the study have theoretical and practical significance and can be used both in the development and implementation of measures in the field of financial market regulation, as well as in analyzing the low activity of the population in the investment process.