IDEAS home Printed from https://ideas.repec.org/p/ehl/lserod/27008.html
   My bibliography  Save this paper

The ruin of Homo Oeconomicus

Author

Listed:
  • Van der Rijt, Jan-Willem

Abstract

In this paper it is shown that the most rational of all creatures, Homo Oeconomicus, can be enticed to freely engage in an activity that is guaranteed to lead to his ruin. It is furthermore shown that this is possible if and only if utility functions are unbounded. The paper thus develops an argument in favour of bounded utility functions.

Suggested Citation

  • Van der Rijt, Jan-Willem, 2006. "The ruin of Homo Oeconomicus," LSE Research Online Documents on Economics 27008, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:27008
    as

    Download full text from publisher

    File URL: http://eprints.lse.ac.uk/27008/
    File Function: Open access version.
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Basel, Jörn S. & Brühl, Rolf, 2013. "Rationality and dual process models of reasoning in managerial cognition and decision making," European Management Journal, Elsevier, vol. 31(6), pages 745-754.
    2. Hălăngescu, Constantin I., 2012. "HOMO OECONOMICUS și HOMO ACADEMICUS: limite și aspecte conceptuale [HOMO OECONOMICUS and HOMO ACADEMICUS: limits and conceptual aspects]," MPRA Paper 36822, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ehl:lserod:27008. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: LSERO Manager (email available below). General contact details of provider: https://edirc.repec.org/data/lsepsuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.