homo economicus
Definition
Latin for "economic human". A term used in economic theories to describe humans as rational and self-interested beings capable of making judgments towards subjectively defined ends (such as accumulation of wealth and resources). This is used as a basic for the majority of economic models, where they assume that all human beings will act like homo economicus. The validity of this assumption has been questioned in some economic circles, with alternative assumptions proposed.
Related Articles
- All ETFs Are Not Equal *
- Steps to Take to Improve your Credit *
- An Overview of the Investment Options Suited for Educational Planning *
- What is a Sole Proprietorship? *
- Introduction to Commodities *
- IRS Audits and How to Deal With Them *
- Understanding Stock Dividends *
- Forex Trading Based On News Releases *
Related Videos
http://www.businessdictionary.com/definition/homo-economicus.html
