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Is Homo Economicus An Ideal to be Pursued? Using US and Japan Survey Data

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  • Shoko Yamane
  • Hiroyasu Yoneda
  • Yoshiro Tsutsui

Abstract

This study investigated how the various characteristics of Homo economicus (intellectual ability, self‐control, selfishness, fairness and pursuit of monetary gain) correlate with individual performance. We adopted income and happiness as measures of individual performance. Using large‐scale survey data from Japan and the USA, we found that: (i) generally, Homo economicus is an ideal person from the perspective of economic success; (ii) Homo economicus has many traits that make her/him unhappy; (iii) intellectual ability is a strong trait of Homo economicus for both economic success and happiness; and (iv) the results for Japan and the USA are quite similar.

Suggested Citation

  • Shoko Yamane & Hiroyasu Yoneda & Yoshiro Tsutsui, 2020. "Is Homo Economicus An Ideal to be Pursued? Using US and Japan Survey Data," Asian Economic Journal, East Asian Economic Association, vol. 34(4), pages 357-378, December.
    • Handle: RePEc:bla:asiaec:v:34:y:2020:i:4:p:357-378
    DOI: 10.1111/asej.12222
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