Searching forHomo Economicus

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Homo economicus?

The current financial and economic crisis is the worst since the stock-market crash of 1929. As with every complex phenomenon, a mixture of causes have been put forward: the housing-market bubble, risky mortgage loans, ‘toxic’ financial products, high personal and corporate debts, inaccurate credit ratings, and much more. The shockwaves have spread so rapidly and hit so hard that entire banking...

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Searching for Homo Economicus: Institutional Boundaries and Americans’ Construals of and Attitudes toward Markets

Economic sociologists agree that economic rationality is constructed and that morality and economic interests often intersect. Yet we know little about how Americans organize their economic beliefs or assess the morality of markets. We distinguish position taking (how people respond to opinion items) from construal (how respondents understand and structure their attitudes within a domain). Usin...

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Homo Economicus Belief Inhibits Trust

As a foundational concept in economics, the homo economicus assumption regards humans as rational and self-interested actors. In contrast, trust requires individuals to believe partners' benevolence and unselfishness. Thus, the homo economicus belief may inhibit trust. The present three experiments demonstrated that the direct exposure to homo economicus belief can weaken trust. And economic si...

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Homo economicus in visual search.

How do reward outcomes affect early visual performance? Previous studies found a suboptimal influence, but they ignored the non-linearity in how subjects perceived the reward outcomes. In contrast, we find that when the non-linearity is accounted for, humans behave optimally and maximize expected reward. Our subjects were asked to detect the presence of a familiar target object in a cluttered s...

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From Homo Economicus to Homo Sapiens

R esponding to a request for a forecast is especially tricky for someone like me, who specializes in other people’s biases. Research in psychology suggests that certain biases are very likely to creep into my forecasts about the future of economics (or anything else). 1. Optimism (and wishful thinking). We all tend to be optimistic about the future. On the first day of my MBA class on decision-...

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ژورنال

عنوان ژورنال: European Journal of Sociology

سال: 2018

ISSN: 0003-9756,1474-0583

DOI: 10.1017/s0003975617000558