Homo economicus

Meet Homo economicus, the perfectly rational and self-interested agent used as a model of human behaviour in neoclassical economics. Lacking the emotion and cognitive biases that typically cloud optimal decision making, Homo economicus is able to consistently pursue self-interest without any regard for the welfare of others. The troubling observation here is that economists have been modelling human behaviour in a manner effectively consistent with psychopathy. The classic, albeit Hollywood inspired

the expected utility. However, as the major critics to this model sustain, individuals are not fully rational when taking decisions. Their cognitive process is limited to the complexity of the environment in which they are taking decisions. The homo economicus is portrayed as capable of solving complex problems of optimization of resources allocation as well as

Given the high level of foreign interest in Syria, it is a fact that the conflict cannot be resolved without the involvement of both opposing Syrian parties and their foreign backers. This refugee disaster has only become more complicated with the involvement of these foreign nations. As well, the ordeal has exponentially worsened with the rise of jihadist organizations like ISIS. These groups seek to eliminate all other opposition forces as well as the Syrian state itself, in an effort to claim

Classicism evolved in the 18th and 19th century throughout Europe following the enlightenment period. The end of the American and French revolutions was the start of many important changes in political beliefs and the idea of equality was strongly enforced. (Bruce A. Arrigo, Heather Y. Bersot, 2014). Classical criminology is a viewpoint of crime, which resulted from a hedonistic approach where behavior leans towards maximizing pleasure and minimizing pain. A basic principle of classicism meant that

Selected Essays by Lefoko O. Molebatsi (2001) --------------------------------------------------------------------------------------------------------------------Public Policy and Policy Analysis: The Rational Model Question: The rational model of public policy making, though heavily criticized, is the most widely used and or talked about model. Discuss why. By Lefoko O. Molebatsi (University of Botswana) Instructor: Prof G. S Maipose 2001 1 Selected Essays by Lefoko O. Molebatsi (2001) -----

Richard Whittington introduced four theories of strategy to explain how people behave and think in real business world and what the projected implications of their various behaviors on strategic management are. The four theories proposed by Whittington are: classical, evolutionary, processual and systemic theories. Classical approach to strategy is a reductionist and scientific one. Classicists are influenced by Taylorism which entails rational thinking and breaking problems and situations into

A couple weeks ago we had a meeting at our daughter’s dance studio. It was a day before dance recital and her teacher wanted to make sure that everyone is ready for the big day, so the show will go smoothly. The teacher, students and parents were present. Dance teacher went through the rules and requirements for dancers, such as when they should come and get ready, when to go on stage and what to wear if they decide to go to the audience after performance. In addition, she talked to parents and explained

Mrs. Martha Hale is an apologetic, dutiful, and rational character who serves as a defense to justify Mrs. Wright’s murderous crime. Mrs. Hale as featured in “A Jury of Her Peers” Written by Susan Glaspell has the storyline of a mother who has intense apologetic regret over allowing her life to push things aside, of being a dutiful homemaker, and of unseen rational processing to the truth of the crime. Martha is mixed with regret in an apologetic manner for the lack of social outreach. Her first

Limited work has been done in the field of philosophy concerning how identity and choice interact. However, Kwame A. Appiah puts forth an account of identity in his book The Ethics of Identity (2010) that sheds light on how one’s choices may be effected by the identities they chose. The following will describe Appiah’s view of identity and how it influences choice, and conclude by providing commentary concerning how effective Appiah’s account of identity is and how it can be improved. Appiah (2010

Why are so many fisheries over-exploited and why have policy-makers struggled to do anything about it? The most appealing point from Hardin’s classic paper is that we cannot expect ones to have consciousness over what lies beyond oneself. Furthermore, comparing whether ones is more mindful than the other is simply obscure or even imperceptible (Hardin, 1968). Although the contexts was in regard to breeding and laissez-faire population growth, this idea has deeper and broader context that is much