Homo Economicus Model

A mathematical model that seeks to explain human decision making, which assumes rational and broadly self-interested behaviours in actors with the ability to make decisions towards the subjectively defined ends
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At the same time, the book crucially advances the debate over cultural politics by arguing that liberal principles of justice must be rooted in a richer conception of the self than what we find in the homo economicus model.
The prevalence of the Homo economicus model of humanity has crowded out considerations of important noneconomic aspects of human nature--most importantly the moral dimension of human thought and conduct.
This Book Review situates Moral Markets within the larger debate over human nature generally, and shows how, through the presentation of biological evidence and evolutionary theory, Moral Markets repudiates the Homo economicus model and supports the Aristotelian position that human beings are fundamentally moral creatures.
12) Not surprisingly, subscribing to the Homo economicus model of humankind leads to characterizing problems and framing solutions in economic terms of benefits and costs, incentives and disincentives.
131) It seems, therefore, that merely proffering the Homo economicus model gives rise to its existence; if we teach and believe that individuals are self-interested wealth-maximizers, we become and create individuals that are self-interested wealth-maximizers.
Martyrdom, anonymous gifts of charity, volunteerism, and even voting in national elections (where one vote will never make a difference) are difficult to explain using the homo economicus model.
Austan Goolsbee discussed whether the paper's results really undermined the homo economicus model.
Edward Glaeser noted that, since any one person's vote is irrelevant, the homo economicus model would predict that individuals will be ill informed about the issues and that beliefs will be widely dispersed.