Challenges to Homo Economicus

Roger D. Johnson

Chapter Chapter 6 in Rediscovering Social Economics, 2017, pp 69-86 from Palgrave Macmillan

Abstract: Abstract Veblen’s concept of conspicuous consumption raised serious questions regarding the assumed autonomy of human preferences. Game theory illustrated scenarios where individuals had to anticipate the response of others but also raised profound questions about generating the rules of the game. Modern Behavioralists have expanded on this by directly questioning the foundational Neoclassical tenets of rational, autonomous, self-interested behavior.

Keywords: Game Theory; Financial Market; Choice Function; Ultimatum Game; Neoclassical Economist (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pfschp:978-3-319-51265-5_6

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DOI: 10.1007/978-3-319-51265-5_6

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