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The Identity of the Economic Agent

In: The Nature of the Economy

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  • Ricardo F. Crespo

    (Universidad Austral and researcher at the National Council of Scientific Research (CONICET, Argentina))

Abstract

This chapter deals with the nature or identity of the individual economic agent. The notion of identity is relevant to economics in that it provides a necessary philosophical framework underlying the descriptions of individual economic agents. The literature on identity and economics upholds that agents’ descriptions fail to identify real people. Standard economics endorses an atomistic conception of individuals. However, an individual’s multiple social commitments and culture shape his/her sense of identity. Therefore, the atomistic individual conception proves inadequate for economics. Moreover, behavioral economics has shown that individuals often make choices that are influenced by their contexts. Yet, while contexts change, individuals remain the same, and individual identity is forged from choices, experiences, culture, and circumstances. Thus, it is relevant to know a person’s identity in order to know how he/she will act. The chapter first explores the conditions economics requires for a concept of identity, and, then, proposes a notion of human personal identity. Finally, it applies this notion of human identity to economics, looking for an adequate description of the identity of the economic agent.

Suggested Citation

  • Ricardo F. Crespo, 2022. "The Identity of the Economic Agent," Springer Books, in: The Nature of the Economy, chapter 0, pages 77-100, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-02453-5_5
    DOI: 10.1007/978-3-031-02453-5_5
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