Homo economicus: Difference between revisions
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'''Homo Economicus'''is the theoretical portrait of a human who is consistently rational and self-interested. The main motive of all transactions and actions are deriving from rational egoism (D. A. Urbina and A. Ruiz-Villaverde, 2019). The term '''homo economicus'''comes from the combination of two other terms - '''homo sapiens''' (humans) and [[economics]]. '''Homo economicus'''can also be understood as economic man. | '''Homo Economicus'''is the theoretical portrait of a human who is consistently rational and self-interested. The main motive of all transactions and actions are deriving from rational egoism (D. A. Urbina and A. Ruiz-Villaverde, 2019). The term '''homo economicus'''comes from the combination of two other terms - '''homo sapiens''' (humans) and [[economics]]. '''Homo economicus''' can also be understood as economic man. | ||
==Homo economicus== | ==Homo economicus== | ||
Revision as of 13:08, 9 April 2022
Homo Economicusis the theoretical portrait of a human who is consistently rational and self-interested. The main motive of all transactions and actions are deriving from rational egoism (D. A. Urbina and A. Ruiz-Villaverde, 2019). The term homo economicuscomes from the combination of two other terms - homo sapiens (humans) and economics. Homo economicus can also be understood as economic man.
Homo economicus
Homo economicus
Characteristics of homo economicus
Homo economicuscan be descirbed as:
References
- Ailon G. (2020), The Phenomenology of Homo Economicus. Sociological Theory, (38.1),36-50.
- Leonard L. (2006), In Search of Homo Economicus: Cognitive Noise and the Role of Emotion in Preference Consistency Journal of Consumer Research, vol. 36, no. 2, pp. 173–87.
- Urbina D. A. and Ruiz-Villaverde A. (2019), A Critical Review of Homo Economicus from Five Approaches. American Journal of Economics and Sociology, (78), 63-93.
Author: Nikita Shtemenko
