The Evolution of the Economic Man. From Homo Oeconomicus to Homo Moralis
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Thorstein Veblen, 1909. "The Limitations of Marginal Utility," Journal of Political Economy, University of Chicago Press, vol. 17, pages 620-620.
- Michael C. Jensen, 2010.
"Value Maximization, Stakeholder Theory, and the Corporate Objective Function,"
Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 32-42, January.
- Michael C. Jensen, 2001. "Value Maximization, Stakeholder Theory, And The Corporate Objective Function," Journal of Applied Corporate Finance, Morgan Stanley, vol. 14(3), pages 8-21, September.
- Michael Jensen, 2001. "Value Maximisation, Stakeholder Theory, and the Corporate Objective Function," European Financial Management, European Financial Management Association, vol. 7(3), pages 297-317, September.
- Ernst Fehr & Klaus M. Schmidt, "undated".
"Theories of Fairness and Reciprocity - Evidence and Economic Applications,"
IEW - Working Papers
075, Institute for Empirical Research in Economics - University of Zurich.
- Ernst Fehr & Klaus Schmidt, 2000. "Theories of Fairness and Reciprocity – Evidence and Economic Applications," CESifo Working Paper Series 403, CESifo.
- Schmidt, Klaus & Fehr, Ernst, 2001. "Theories of Fairness and Reciprocity - Evidence and Economic Applications," CEPR Discussion Papers 2703, C.E.P.R. Discussion Papers.
- Williamson, Oliver E, 1973. "Markets and Hierarchies: Some Elementary Considerations," American Economic Review, American Economic Association, vol. 63(2), pages 316-325, May.
- George A. Akerlof, 2009. "How Human Psychology Drives the Economy and Why It Matters," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(5), pages 1175-1175.
- Hausman,Daniel & McPherson,Michael & Satz,Debra, 2017. "Economic Analysis, Moral Philosophy, and Public Policy," Cambridge Books, Cambridge University Press, number 9781107158313.
- Becker, Christian, 2006. "The human actor in ecological economics: Philosophical approach and research perspectives," Ecological Economics, Elsevier, vol. 60(1), pages 17-23, November.
- Montes, Leonidas, 2003. "Das Adam Smith Problem: Its Origins, the Stages of the Current Debate, and One Implication for Our Understanding of Sympathy," Journal of the History of Economic Thought, Cambridge University Press, vol. 25(1), pages 63-90, March.
- Ingela Alger & Jörgen W. Weibull, 2013.
"Homo Moralis—Preference Evolution Under Incomplete Information and Assortative Matching,"
Econometrica, Econometric Society, vol. 81(6), pages 2269-2302, November.
- Alger, Ingela & Weibull, Jörgen, 2012. "Homo Moralis-Preference evolution under incomplete information and assortative matching," LERNA Working Papers 12.17.374, LERNA, University of Toulouse.
- Alger, Ingela & Weibull, Jörgen W., 2012. "Homo Moralis-Preference evolution under incomplete information and assortative matching," TSE Working Papers 12-281, Toulouse School of Economics (TSE).
- Ingela Alger & Jörgen W. Weibull, 2012. "Homo Moralis: Preference Evolution under Incomplete Information and Assortative Matching," Carleton Economic Papers 12-01, Carleton University, Department of Economics, revised 14 May 2012.
- Michael C. Jensen & William H. Meckling, 1994. "The Nature Of Man," Journal of Applied Corporate Finance, Morgan Stanley, vol. 7(2), pages 4-19, June.
- Tomer, John F., 2007. "What is behavioral economics?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(3), pages 463-479, June.
- Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 69(1), pages 99-118.
- Veblen, Thorstein, 1909. "The Limitations of Marginal Utility," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 17.
- Hardy-Vallee, Benoit, 2007. "Decision-Making: A Neuroeconomic Perspective," MPRA Paper 4010, University Library of Munich, Germany.
- Vernon L. Smith, 1998. "The Two Faces of Adam Smith," Southern Economic Journal, John Wiley & Sons, vol. 65(1), pages 2-19, July.
- Daniel Kahneman & Amos Tversky, 2013.
"Prospect Theory: An Analysis of Decision Under Risk,"
World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127,
World Scientific Publishing Co. Pte. Ltd..
- Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
- Smith,Vernon L., 2009.
"Rationality in Economics,"
Cambridge Books,
Cambridge University Press, number 9780521133388.
- Smith,Vernon L., 2008. "Rationality in Economics," Cambridge Books, Cambridge University Press, number 9780521871358, January.
- Marie-Laure Salles-Djelic, 2005. "How Capitalism Lost its Soul," Post-Print hal-01892001, HAL.
- Elster, Jon, 1989. "Social Norms and Economic Theory," Journal of Economic Perspectives, American Economic Association, vol. 3(4), pages 99-117, Fall.
- Ernst Fehr & Urs Fischbacher, 2002. "Why Social Preferences Matter -- The Impact of Non-Selfish Motives on Competition, Cooperation and Incentives," Economic Journal, Royal Economic Society, vol. 112(478), pages 1-33, March.
- Vernon L. Smith, 2003.
"Constructivist and Ecological Rationality in Economics,"
American Economic Review, American Economic Association, vol. 93(3), pages 465-508, June.
- Smith, Vernon L., 2002. "Constructivist and Ecological Rationality in Economics," Nobel Prize in Economics documents 2002-7, Nobel Prize Committee.
- Richard H. Thaler, 2000. "From Homo Economicus to Homo Sapiens," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 133-141, Winter.
- Joseph Persky, 1995. "The Ethology of Homo Economicus," Journal of Economic Perspectives, American Economic Association, vol. 9(2), pages 221-231, Spring.
- Luk Bouckaert & Laszlo Zsolnai, 2011. "Spirituality and Business," Palgrave Macmillan Books, in: Luk Bouckaert & Laszlo Zsolnai (ed.), Handbook of Spirituality and Business, chapter 1, pages 3-8, Palgrave Macmillan.
- William D. Grampp, 1948. "Adam Smith and the Economic Man," Journal of Political Economy, University of Chicago Press, vol. 56, pages 315-315.
- Markus Wartiovaara, 2011. "Rationality, REMM, and Individual Value Creation," Journal of Business Ethics, Springer, vol. 98(4), pages 641-648, February.
- Douglass C, North, 1992. "Institutions, Ideology, and Economic Performance," Cato Journal, Cato Journal, Cato Institute, vol. 11(3), pages 477-496, Winter.
- Ernst Fehr & Urs Fischbacher, "undated". "Why Social Preferences Matter - The Impact of Non-Selfish Motives on Competition," IEW - Working Papers 084, Institute for Empirical Research in Economics - University of Zurich.
- Frédéric Teulon, 2014. "Ethics, moral philosophy and economics," Working Papers 2014-288, Department of Research, Ipag Business School.
- Nyborg, Karine, 2000. "Homo Economicus and Homo Politicus: interpretation and aggregation of environmental values," Journal of Economic Behavior & Organization, Elsevier, vol. 42(3), pages 305-322, July.
- Arrow, Kenneth J, 1994. "Methodological Individualism and Social Knowledge," American Economic Review, American Economic Association, vol. 84(2), pages 1-9, May.
- Brunner, Karl & Meckling, William H, 1977. "The Perception of Man and the Conception of Government," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 9(1), pages 70-85, February.
- Ruth Grant, 2008. "Passions and interests revisited: the psychological foundations of economics and politics," Public Choice, Springer, vol. 137(3), pages 451-461, December.
- Fehr, Ernst & Schmidt, Klaus M., 2001. "Theories of Fairness and Reciprocity," Discussion Papers in Economics 14, University of Munich, Department of Economics.
- repec:hal:spmain:info:hdl:2441/5vh7udhojr93npqcg7j64df9d4 is not listed on IDEAS
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Nagy, Benedek & Lukovics, Miklós, 2021. "A felelősségteljes innováció és a gazdasági racionalitás kapcsolatrendszere vállalati környezetben [Linkages between responsible innovation and economic rationality in a corporate environment]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 421-436.
- Mohammad Tariq Al Fozaie, 2022. "Behavior and Socio-Economic Development: An Interdisciplinary Perspective," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 11, November.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Viktor J. Vanberg, 2007. "Rationality, Rule-Following and Emotions: On the Economics of Moral Preferences," Papers on Economics and Evolution 2006-21, Philipps University Marburg, Department of Geography.
- Silvia Sacchetti & Ermanno C. Tortia, 2010. "A NEW FRAMEWORK FOR THE ECONOMIC ANALYSIS OF COOPERATIVE FIRMS: Self-defined rules, common resources, motivations, and incentives," Econometica Working Papers wp21, Econometica.
- Sacchetti, Silvia & Tortia, Ermanno, 2013. "The Silver Lining Of Cooperation," AICCON Working Papers 125-2013, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
- Carlo Borzaga & Ermanno Tortia, 2004. "Worker involvement in entrepreneurial nonprofit organizations. Toward a new assessment of workers' perceived satisfaction and fairness," Department of Economics Working Papers 0409, Department of Economics, University of Trento, Italia.
- Dohmen, Thomas, 2014.
"Behavioral labor economics: Advances and future directions,"
Labour Economics, Elsevier, vol. 30(C), pages 71-85.
- Dohmen, Thomas, 2014. "Behavioural Labour Economics: Advances and Future Directions," IZA Discussion Papers 8263, Institute of Labor Economics (IZA).
- Lin, Chung-Cheng & Yang, C.C., 2010. "Reciprocity and downward wage rigidity," Journal of Macroeconomics, Elsevier, vol. 32(4), pages 1155-1168, December.
- Viktor J. Vanberg, 2008. "On the Economics of Moral Preferences," American Journal of Economics and Sociology, Wiley Blackwell, vol. 67(4), pages 605-628, October.
- Soufian, Mona & Forbes, William & Hudson, Robert, 2014. "Adapting financial rationality: Is a new paradigm emerging?," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 25(8), pages 724-742.
- Drakopoulos, Stavros A., 2022. "The Conceptual Resilience of the Atomistic Individual in Mainstream Economic Rationality," MPRA Paper 112944, University Library of Munich, Germany.
- Philipp Schreck & Dominik Aaken & Karl Homann, 2020. "“There’s Life in the Old Dog Yet”: The Homo economicus model and its value for behavioral ethics," Journal of Business Economics, Springer, vol. 90(3), pages 401-425, April.
- Polowczyk Jan, 2021. "A synthesis of evolutionary and behavioural economics," Economics and Business Review, Sciendo, vol. 7(3), pages 16-34, September.
- Dante A. Urbina & Alberto Ruiz‐Villaverde, 2019. "A Critical Review of Homo Economicus from Five Approaches," American Journal of Economics and Sociology, Wiley Blackwell, vol. 78(1), pages 63-93, January.
- Roger Koppl & William Luther, 2012. "Hayek, Keynes, and modern macroeconomics," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 25(3), pages 223-241, September.
- Elisabeth Gsottbauer & Jeroen den Bergh, 2013. "Bounded rationality and social interaction in negotiating a climate agreement," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 13(3), pages 225-249, September.
- Vanberg, Viktor J., 2007. "Rational choice, preferences over actions and rule-following behavior," Freiburg Discussion Papers on Constitutional Economics 07/6, Walter Eucken Institut e.V..
- Giuseppe Pernagallo & Benedetto Torrisi, 2020.
"A theory of information overload applied to perfectly efficient financial markets,"
Review of Behavioral Finance, Emerald Group Publishing Limited, vol. 14(2), pages 223-236, October.
- Giuseppe Pernagallo & Benedetto Torrisi, 2019. "A Theory of Information overload applied to perfectly efficient financial markets," Papers 1904.03726, arXiv.org.
- Simon Gaechter, 2006.
"Conditional cooperation: Behavioral regularities from the lab and the field and their policy implications,"
Discussion Papers
2006-03, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Simon Gaechter, 2006. "Conditional cooperation: Behavioral regularities from the lab and the field and their policy implications," Discussion Papers 2006-03, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- Jasman Tuyon & Zamri Ahmada, 2016. "Behavioural finance perspectives on Malaysian stock market efficiency," Borsa Istanbul Review, Research and Business Development Department, Borsa Istanbul, vol. 16(1), pages 43-61, March.
- Balafoutas, Loukas & Nikiforakis, Nikos, 2012.
"Norm enforcement in the city: A natural field experiment,"
European Economic Review, Elsevier, vol. 56(8), pages 1773-1785.
- Loukas Balafoutas & Nikos Nikiforakis, 2011. "Norm Enforcement in the city: A natural field experiment," Department of Economics - Working Papers Series 1133, The University of Melbourne.
- Loukas Balafoutas & Nikos Nikiforakis, 2012. "Norm enforcement in the city: A natural field experiment," Natural Field Experiments 00385, The Field Experiments Website.
- Loukas Balafoutas & Nikos Nikiforakis, 2012. "Norm enforcement in the city: A natural field experiment," Working Papers 2012-12, Faculty of Economics and Statistics, Universität Innsbruck.
- Ashok Chakravarti, 2012. "Institutions, Economic Performance and the Visible Hand," Books, Edward Elgar Publishing, number 14751.
More about this item
Keywords
homo oeconomicus; homo moralis; egoism; self-interest; morality; REMM model;All these keywords.
JEL classification:
- A10 - General Economics and Teaching - - General Economics - - - General
- B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
- B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
- B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
- B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sgh:gosnar:y:2018:i:1:p:33-57. See general information about how to correct material in RePEc.
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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Grzegorz Konat (email available below). General contact details of provider: https://edirc.repec.org/data/sgwawpl.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.