Witzel

Is Homo Economicus becoming exti Witzel Estonian edition

Seminar paper from the year 2012 in the subject Economics - Micro-economics, grade: 1,2, University of Applied Sciences Bremen, language: Estonian, abstract: 1. Introduction In his famous article "A Behavioral Model of Rational Choice" from 1955, Herbert Simon already called the concept of the Homo Economicus into question and explained: "The concept of "economic man" is in need of fairly drastic revision. [...] The task is to replace the global rationality of economic man with a kind of rational behavior that is compatible with the access to information and the computational capacities that are actually possessed by organisms exist. One is tempted to turn to the literature of psychology for the answer."