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 ?
Peter Groenewegen argues that Alfred Marshall did not accept the rational economic man paradigm, but was evolutionary in his outlook and influenced by Darwin.
To use an extreme example, with only the rational economic man model of human nature, it is not possible to utter a moral condemnation of murderers.
Hewitson, Feminist Economics: Interrogating the Masculinity of Rational Economic Man, Cheltenham, Edward Elgar, 1999.
1975), Rational Economic Man -- A Philosophical Critique of Neo-classical Economics, Cambridge University Press, London.
According to conventional wisdom, neither naturalism nor holism can be applied to economics, for the core of economics, the theory of the rational economic man, is ruthlessly individualistic, and few if any economic theories are well-confirmed or provide causal explanations of economic events.

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