The Economic Person - Methodological Relevance of the Model
AbstractThe main thesis is that the model of the economic person contains the methodological codification of the modern science of economics. The model comprises as its constituent elements deductive assumptions on the target-oriented function of people who are faced with economic choices, on the limitations over those choices and the opportunities they have to optimize the latter. Each element is represented as a projection of the fundamental presumption of the rationality of economic subjects. It is emphasized that, as far as methodology is concerned, the binding of the science of economics to its fundamental behaviorist model does not allow us to set precise boundaries as to its subject, however, it does identify the science very clearly through the specific approach it uses towards the phenomena under study. Methodological individualism is pointed out as the main feature of the economic approach. The manifestations of the former in the individual elements of the model of the economic person are discussed. The relative advantages of methodological individualism over holism through comparison of the models of the economic and sociological person are given. Special treatment is given to methodological instrumentalism and the way the hypotheses forming the base behaviorist model are instrumental in the realization of the latter in economic analysis. With respect to the application of that principle, the interrelation between the model of the economic person and general economic development is pointed out.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Bulgarian Academy of Sciences - Economic Research Institute in its journal Economic Thought.
Volume (Year): (2003)
Issue (Month): 5 ()
Find related papers by JEL classification:
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
- A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 69, pages 213.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vassil Zahariev).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.