homo economicus

(redirected from Economic man)
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homo economicus

(ˌɛkəˈnɒmɪkəs)
n
a theoretical human being who rationally calculates the costs and benefits of every action before making a decision, used as the basis for a number of economic theories and models
[C21: modelled on homo sapiens, etc. ]
References in periodicals archive ?
As the economic man erodes the political man, the economic knowledge erodes the economic man.
On the contrary, economic man is integrated with the other economic men, by a spontaneous multiplication of interests and not by a transfer of rights" (Lazzarato, 2010, p.
The fundamental problem is that Marcal has created a straw economic man out of Adam Smith.
2) The 'soul' of this modern economic man is extreme self-interest, (3) and it is from this self-interest that Homo economicus is inevitably drawn into conflict and competition with others.
This theory of the economic man began to be criticised in 20th century by a number of neoclassical economists.
Donald Hay and Gordon Menzies echo Henley with their critique of rational choice theory (RCT) and its anthropology, identified as rational economic man (REM).
By its own assumptions, its advocates must be rent-seeking scholars who believe in and espouse the paradigm of self-interested, rational economic man because it is in their own self-interest to do so.
From Economic Man to Economic System: Essays on Human Behaviour and Institutions of Capitalism.
Amartya Sen notes that economic man is not an idealized decision maker
Western society has given up the belief that man is fundamentally Economic Man that his motives are economic motives and that his fulfillment lies in economic success and economic rewards.
Replete with accelerating mathematics and with reliance on the rationality of economic man, it is a methodology that is typically characterized by economists in terms of rigor and science.
Mill, I define the economic man as an individual who seeks the best opportunities for himself given the range of possibilities.