• Corpus ID: 250334767

Homo economicus to model human behavior is ethically doubtful and mathematically inconsistent

  title={Homo economicus to model human behavior is ethically doubtful and mathematically inconsistent},
  author={M. Lunkenheimer and Al F. Kracklauer and Galiya Klinkova and Michael Dr Grabinski},
In many models in economics or business a dominantly self-interested homo economicus is assumed. Unfortunately (or fortunately), humans are in general not homines economici as e.g. the ultimatum game shows. This leads to the fact that all these models are at least doubtful. Moreover, economists started to set a quantitative value for the feeling of social justice, altruism, or envy and the like to execute utilitarian calculation. Besides being ethically doubtful, it delivers an explanation in… 

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