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 ?
The model provides a framework for examining the type of government conduct that can induce a rational actor into the commission of a crime.
was a brilliant strategic move - a rational act by a high stakes rational actor.
Throughout various facets of Wiber's analysis one has the strong impression that it is the rational actor which underwrites all of the Ibaloi structures.
Behavioural Biology, the Rational Actor Model and the New Feminist Agenda June Carbone and Naomi Cahn
If the conditions in the field -- which you cannot control, unlike what you can do under laboratory conditions -- start to get completely out of hand, your duty as a rational actor is to review your old preferences and methods and even completely change your expectations for the result.
To do so he should accept the fact that Iran is a rational actor, and rationally, the political equality and the supervision of the international law are the fundamental preconditions for rational Iran to come back to the negotiating table.
If he is a rational actor, deep down, Erdoy-an must know that he cannot solve the Kurdish question by only military means.
The history of the Islamic Republic demonstrates that Iran is a rational actor, however, not a suicidal one.
In the mainstream theory of institutional change, there is no real human agency, because what a rational actor will choose is already structurally determined.
The individual became the ultimate agent of change -- an individual conceived as the type of rational actor that populates economists' models.
consumer as a self-interested rational actor reflects only a small part
Assuming that Kim is a rational actor, he must have had good reason to believe that the Chinese lifeline would be sustained, even if he executed China's favorite interlocutor in North Korea.