in economics as a basis for explaining and predicting human behavior, the model of homo minor-bidi economicus used. The homo economicus refers to a fictional actor, who is self-interested and rational, unchanging preferences and changing constraints (eg income, relative prices) responds. The principle of methodological individualism, which explains the individual to own decisive action unit. Every action is therefore acting individually.
The model assumption of homo economicus is criticized by many sides sharp. The main criticism is that the restrictive assumptions of a rational man does not reflect reality, since people's behavior, social dimensions (such as fashion and Nachahmeffekte) are crucial. In addition, people act not only self interest and preferences change over the various life stages. Economists are accused, therefore, that their recommendations and predictions can not be relied was because of the unrealistic assumptions of homo economicus, the economic reality hardly adheres to the tenets.
to this Part strong criticism is due in large part on a misreading. That it is impossible to meet a man, which corresponds to the image of homo economicus, is hardly challenged by an economist. It is crucial that it is a model assumption is what is necessary because due to the high degree of complexity in economics to work without simplification is not possible. It seems reasonable to assume that people pursue their own benefit rather than to act out of altruistic motives or malicious. The assumption of immutable preferences is a Necessary hypothesis, because in economics durchschlägigen no theories to explain preference changes are. A change in behavior is not attributed to a change of people, but on the set of institutions incentives. is the image of homo economicus is not therefore explain the behavior of people in full, but is a realistic and practical approach to explain and supply of human behavior.
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