homo economicus

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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 ?
Econs are the rational economic actors who can easily figure out which deal is better, are never misled by the order in which alternatives are presented, always ignore sunk costs, etc.
Corporations are generally taken to be rational economic actors and laws and regulations in relation to corporations are often understood in terms of costs and incentives.
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