Is Homo Economicus becoming extinct?

Business & Finance, Economics, Microeconomics
Cover of the book Is Homo Economicus becoming extinct? by Jessica Witzel, GRIN Verlag
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Author: Jessica Witzel ISBN: 9783656211532
Publisher: GRIN Verlag Publication: June 6, 2012
Imprint: GRIN Verlag Language: English
Author: Jessica Witzel
ISBN: 9783656211532
Publisher: GRIN Verlag
Publication: June 6, 2012
Imprint: GRIN Verlag
Language: English

Seminar paper from the year 2012 in the subject Economics - Micro-economics, grade: 1,2, University of Applied Sciences Bremen, language: English, abstract: 1. Introduction In his famous article 'A Behavioral Model of Rational Choice' from 1955, Herbert Simon already called the concept of the Homo Economicus into question and explained: 'The concept of 'economic man' is in need of fairly drastic revision. [...] The task is to replace the global rationality of economic man with a kind of rational behavior that is compatible with the access to information and the computational capacities that are actually possessed by organisms exist. One is tempted to turn to the literature of psychology for the answer.'

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Seminar paper from the year 2012 in the subject Economics - Micro-economics, grade: 1,2, University of Applied Sciences Bremen, language: English, abstract: 1. Introduction In his famous article 'A Behavioral Model of Rational Choice' from 1955, Herbert Simon already called the concept of the Homo Economicus into question and explained: 'The concept of 'economic man' is in need of fairly drastic revision. [...] The task is to replace the global rationality of economic man with a kind of rational behavior that is compatible with the access to information and the computational capacities that are actually possessed by organisms exist. One is tempted to turn to the literature of psychology for the answer.'

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