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 ?
Conventionally, a rational economic actor approach has been adopted.
This is the concept behind the "rational economic actor" assumption that underlies classical economics.
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.
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.