Entwicklungen in der Wirtschaftstheorie (English shop)

Homo Behavioralis statt Homo Oeconomicus?

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This work sets itself the goal of bringing about a paradigm shift in economics.

But why must a paradigm shift come about? The answer is: because the prevailing paradigm of economics cannot explain the economy and economic relationships with sufficient precision.

This is evident above all in the financial crisis, which was not predicted by economists (apart from a few exceptions). At the centre of present-day economics stands the homo oeconomicus, a model of a human being who maximises his utility without emotions and on purely rational grounds.

This model offers the advantage that the economy as a whole becomes calculable; at the same time, however, the disadvantage also becomes clear: since human behaviour is not the behaviour of the homo oeconomicus, only ideal relationships can be described mathematically with the aid of the homo oeconomicus, but not real ones.