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homo economicus

levy · 2024-12-22T16:27:13.402030-08:00

homo economicus, often referred to as the "economic man," is a theoretical construct in classical and neoclassical economics. under this model, individuals are assumed to: – act rationally and consistently to maximize their self-interest (or "utility"). – have complete or near-complete information about available choices. – weigh costs and benefits to make optimal decisions.

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