The article discusses the modern course of formation of the competitiveness of the regional economy. The necessity of improving competition as a market mechanism at the regional level is substantiated. From behavioral economics point of view, household and small businesses are given special attention in terms of development and welfare. The main principles of the formation of a competitive model of the regional economy are substantiated. Current trends in the concept of formation of competitive advantages in regard to regional economy are analyzed. It is noted that individual market behavior is considered as an important trend in the concept of behavioral economics. Taking into the aim of forming regional competitiveness in economy they concider state influence upon economy entities behavior as an important and necessary factor. The formation of various clusters is proposed to ensure an important institutional interaction of economic entities in the region as a manifestation of a collaborative and competitive form of competition. Recommendations for improving competitive relations under the conditions of the Republic of Tajikistan, regional aspect inclusive, are suggested as well.
Keywords: region, regional economy, competitivness, behavioral economics, clusters, competitive relations, institutional economics, formal and informal institutions, economic model
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