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From Homo Economicus to Homo Sapiens

Richard Thaler

Journal of Economic Perspectives, 2000, vol. 14, issue 1, 133-141

Abstract: In responding to a request for predictions about the future of economics, I predict that Homo Economicus will evolve into Homo Sapiens, or, more simply put, economics will become more related to human behavior. My specific predictions are that Homo Economicus will start to lose IQ, will become a slower learner, will start interacting with other species, and that economists will start to study human cognition, human emotion, and will distinguish more clearly between normative and descriptive theories.

JEL-codes: A11 (search for similar items in EconPapers)
Date: 2000
Note: DOI: 10.1257/jep.14.1.133
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