Homo economicus

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  • Homo Economicus: The Game Theory

    Homo economicus or the economic man can be referred to the concept of many theories of economics. It portrays human beings as self-interested and rational agents, who pursue optimally the subjectively defined ends. Homo economicus maximizes the utility as the customer and profitability as the producer. The whole theory is compared to the different concepts of economic behavior, cognitive biases as well as homo reciprocans. In the game theory, the homo economicus is related and associated with the assumptions of perfect rationality (Benería et al.). This essay throws light on the ways that institutional economics challenges the neoclassical assumptions about homo economicus. It gives a brief explanation regarding the economic relationship between…

    Words: 995 - Pages: 4
  • Elements Of Rational Choice Theory

    What are the key elements of Rational Choice Theory? • Beeson and Firth (1998) ‘Neoliberalism as a political rationality: Australian public policy since the 1980’s’, Journal of Sociology, Vol 34. Pp 215-231 In Beeson and Firth’s article, I gain a further insight into the conception of liberalism and the implementation of rational choice theory, specifically focusing on economic gain and wealth. The authors thoroughly researched the introduction of liberalism in the 1900’s and the resurgence…

    Words: 1144 - Pages: 5
  • Sociological Theories Of Crime Essay

    During the many years of carefully analyzing the theories of crime, questionings have challenged whether or not sociology can illustrate and help understand the causation of crimes. The theories of crime and delinquency are used to explain the principle of the crime committed and provides a supportive argument into the motive and compensation of the individual’s actions. Sociological theories of crime focus’ on a macro level around three of its leading theories: strain theory, social learning…

    Words: 1597 - Pages: 7
  • Arab Spring: The Rationality Paradigm

    the transition of regimes. These regimes’ persistence is embedded in their cultural foundations and institutional structure (Yom and Gause, 2012). Elliot Abrams (2012) claims that the historical connection of the Arab monarchies give them their strength and legitimacy. He explains how the monarchy is often sustained by religious belief, and this gives them more legitimacy than any self-appointed strongmen (Abrams, 2012). The rationality paradigm does not appear as an independent category as…

    Words: 826 - Pages: 4
  • Maximization Of Economic Man Theory

    According to Rittenberg and Tregarthen (2009), economics is “a study of choice”. This simple assumption is the most basic definition of the general economic thought because if there is a scarcity present, then there is a choice to be made about this scarce resource. Moreover, Rittenberg and Tregarthen (2009) also point out that what distinguishes economic approach from any other science, whether social or not, is that economists study this “choices” assuming that people try to maximize their…

    Words: 728 - Pages: 3
  • Vivian A Zelizer Analysis

    Vivian A Zelizer argues individuals will all behave in a different way in their responds or interaction with money. Every individual’s perception of money is different and therefore the way they value its significance is also different. The individual’s social and cultural structure matter because it’s these concept that define the way the individual feels about money compared to another individual whose culture and social structure is completely different. Concepts like these define how the…

    Words: 754 - Pages: 4
  • The Categorical Imperative In Immanuel Kant's The Stranger

    The categorical imperative, to Immanuel Kant, is an overarching principle of acting towards others the way you would like for them to treat everybody else; a slight furtherance of the ‘Golden Rule’(Where your actions are based upon the way you would like them to treat you). The categorical imperative creates a moral basis based upon one’s understanding of their own individuality coupled with an empathetic understanding of those around them, based upon their precepts that they’ve come to…

    Words: 1147 - Pages: 5
  • Summary Of The Hobbit

    This book is about Hobbits. Or at least one Hobbit. A Hobbit is kind of like a human and kind of like a dwarf, but is smaller than a dwarf and human. They are quick on their feet and silent. They do not have any kind of magic in them, though some would say that being able to quietly and quickly dissapear from sight is a magic thing. The Hobbits name that this story is about is Bilbo Baggins. Gandalf, who is a wizard, comes one day to the Shire, where Bilbo lives. Since Hobbits are usually always…

    Words: 1649 - Pages: 7
  • Megafana Extinction Research Paper

    (picture 4) – The Megalania was a giant lizard (monitor lizard). It reached a whopping 5-6m in length two to three metres longer than the largest living lizard species the Komodo dragon. This giant lizard’s closest living relatives are the goanna and the Komodo dragon, (Varanus komodoensis). They arent direct descendents. • Determine the approximate time period in which the Australian megafauna became extinct. It is believed that around 1.64 million years ago the first megafauna came into…

    Words: 1863 - Pages: 8
  • Giorgio Agamben's Writing Of Sovereign Power And Bare Life

    This figure is called homo sacer, and in Agamben 's theory, it is a person whom one could kill with impunity (without consequences) (Agamben, 8). He compares this person to the living dead because although they are physically alive, they could be killed at anytime (theoretically) as they have been regulated by sovereign power to be outside the law (Agamben, 8). These individuals, although they can be killed because they are not a citizen, cannot be sacrifices in religious ceremonies because they…

    Words: 1417 - Pages: 6
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