Homo Economicus

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Homo Economicus

A person that desires to maximize his/her needs or desires. Homo economicus is used most of the time to refer to the rational economic actor, who desires wealth, does not desire to work if it can be avoided, and is able to find ways achieve those ends. This assumption is accepted by many economists, especially those who follow rational choice theory, but it remains controversial. The concept of homo economicus was developed by utilitarian thinkers, and contrasts with the constructs of behavioral economics.
References in periodicals archive ?
It is not always a war between rational actors, or even between states.
for access weakens, people will more often act as rational actors.
12) The early European notion of nations as inherently competitive stands in contrast to the United States' view of people as rational actors who can build peaceful and cooperative societies through participatory government and free markets.
The Taliban cannot be thought of as rational actors, and what would be stopping them from simply disregarding the treaty altogether.
So, let us assume another scenario, that the Iranians are not crazed fanatics but rational actors looking out for what is best for their country.
Of course, even rational actors can make serious miscalculations with horrific consequences (witness Saddam Hussein's ill-advised invasion of Kuwait in 1990).
But in the real world of politics and policy, they are rational actors, calculating the costs and benefits of federal grant laws.
Calm, rational actors explain that they looked at studies on high fructose corn syrup (HFCS) and found to their surprise that it was the same as cane sugar.
The dominant structural-functional school of social movement study, popularized by the works of prominent scholars such as Charles Tilly, Sidney Tarrow, Doug McAdam, and Mayer Zald, posits that social movements emerge as rational actors pursue reasonable goals of challenging unjust oppression.
Singh concluded, "Of course, even otherwise rational actors are prone to the occasional--and sometimes very consequential--irrational decision.
The system is designed to address the actions of presumed rational actors in a way that punishes and corrects behavior.