The ruin of Homo Oeconomicus
Van der Rijt, J.
(2006).
The ruin of Homo Oeconomicus.
(LSE Choice Group working paper series vol. 2, no. 1).
The Centre for Philosophy of Natural and Social Science (CPNSS), London School of Economics.
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.
| Item Type | Working paper |
|---|---|
| Copyright holders | © 2006 The author |
| Departments | LSE > Research Centres > Centre for Philosophy of Natural and Social Sciences (CPNSS) |
| Date Deposited | 08 Feb 2010 |
| URI | https://researchonline.lse.ac.uk/id/eprint/27008 |