homo economicus

(redirected from Rational actor)
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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 ?
Given that this practice is already widespread, many economists feel that they don't need behavioural insights in addition - if they can make a new model that relies only on assumptions about technology, or information, cost structures, or other things that would concern a purely rational actor, why bother to add ideas from psychology?
Khlevniuk's general secretary is also surprisingly unencumbered by ideological convictions for a Marxist revolutionary--he is an ascetic rational actor standing at the center of a radical orthodoxy.
However, over the past two decades, the rational actor paradigm has
Since a rational actor will not engage in activities that reflect a higher level of coercive intensity than their interests dictate, the highest level activity is indicative of the current condition between two actors.
By definition, rational actors should not be affected by irrelevant features of the environment, but many people fail to behave as the ideal rational actor would.
A successful disarming, decapitating or pre-emptive strike against adversary possessing credible nuclear weapons capability is considered an impossibility as a rational decision,' he maintained hoping that India would act as 'a rational actor and would not undertake this dangerous exercise of launching a pre-emptive strike.
was a straightforward person, and starting on February 4,1974, she reacted to her challenges in rational ways," Toobin tells us, reiterating a point he makes frequently throughout the book: that Hearst, from the moment of her kidnapping onward, was a rational actor who consistently chose to act in accordance with her best interests.
The West is pleased with this turn of events, Sagnic said, because from the point of view of Western powers, Russia is a more rational actor than Iran and therefore "will give the Western bloc more chances to access the future Syria than if Syria was ruled solely by Iran.
It is well institutionalized and proved to be a rational actor in the world affairs.
This explains why an otherwise rational actor begins making seemingly panicky and incomprehensible moves," US-based award winning author and president of the National Iranian American Council Trita Parsi writes in his op-ed for Al-Jazeera.
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.