Word: utilityã
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...edifice of equations and graphs, neoclassical economics still rests on several foundational beliefs of what constitutes human nature. These beliefs are illustrated in the infamous economic model of how humans behave, Economic Man. Economic Man is a rational individual with preset preferences who constantly seeks to maximize his own utility??€”happiness—through consumption of resources. Is this conception of human nature and human happiness accurate? Does it accurately describe you or the people you know? Most empirical evidence and just plain common sense suggests that humans are not rational in this way, that many factors motivate...