homo economicus

(redirected from Rational economic 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 ?
Conventionally, a rational economic actor approach has been adopted.
In recent years, however, the rational economic actor assumption has been called into question by accumulating experimental evidence, prompting a rethinking of important tenants of economic theory.
It explains how the qualitative element, if properly exploited by a rational economic actor, can stimulate an organization's growth under normal conditions or, operating as a buffer, can safeguard it from adverse external shocks.
This `narrow model of human behavior' (Donaldson, 1990, 371) leads public choice and organizational economic theorists to conclude that the rational economic actor .