economic man

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economic man

(ECONOMICS) the IDEALTYPE conception of the ‘rational economic actor’, in which the individual is assumed to seek to maximize his or her returns (satisfaction, UTILITY, profit) from economic activity No assumption need be made that, in reality, the actor always does actually aim at, or, still less, succeed in such maximizing activity. Rather, the ideal type allows the construction of rational models of economic behaviour, so that departures from such a rational model can be studied. In sociology many of Max WEBER's ideal types are posited as departures from rational types of behaviour, e.g. see TYPES OF SOCIAL ACTION.
References in periodicals archive ?
17) In short, Moral Markets exposes the myth of Homo economicus.
Lemma 1: If working at the traditional firm gives Homo Economicus greater utility than Homo Sociologus, then Z'([delta]) [less than] 0.
Symptomatic of this failing is the fact that none of the authors writing about the early modern period responded to the dialectical revisionism of Michael McKeon's Origins of the English Novel--a revision and deepening of Watt's Rise of the Novel according to which being a homo economicus might not be so antithetical to being an imperialist, a republican, or a misogynist (as with which Watt himself would have agreed) and a "myth" may be thought of less as a variously propagated archetypal narrative than as a form and site of cultural contention.
Topics are homo economicus and other rational fools, the meanings of sympathy, and the nature of legal rules (".
Stage 1: The Realization: Goodbye Homo economicus - this is when consumers come to understand how the larger economy intersects with their personal economy and what they need to do to make changes.
Failing to understand that man is more than homo economicus will lead to major errors in addressing social problems," writes Sirico.
The contrast between homo economicus and real humans would provide the springboard from which Kahneman launched his life's work, focusing on biases in choice.
Although he never puts it quite this way, what Agamben is ultimately after in the new work is the nature of the kinship relations between the homo sacer and the homo economicus.
A partir de este supuesto se construye el homo economicus de la teoria convencional.
It seems that Homo economicus, who lives for bread alone, has given way to someone for whom a sense of belonging is at least as important as eating.
In describing seven ways to think like a 21st-century economist, Raworth shows how homo economicus is not as self-seeking as is traditionally assumed.
Some of these elements actually conflict--the homo economicus viewpoint and free will, the norm of not intruding on people versus value subjectivism.