Title: There’s Life in the Old Dog Yet: The Homo Oeconomicus Model and its Value for the Study of Morality
Abstract: The Homo Oeconomicus is a widely used model (HOM) in the social sciences in general and in business ethics in particular. Despite its success, the model is frequently criticized for being empirically flawed, and normatively dangerous. Mostly on the grounds of empirical “falsifications,” it has been argued that the model should be abandoned and replaced by more realistic models of human behavior. Against this criticism, this paper develops a precise methodological conception of the HOM that is able to integrate seemingly contradictory empirical evidence. We will defend the view that the Homo Oeconomicus is not a model of human nature but a pre-empirical, untestable heuristic. The basic function of the HOM is to allow the researcher’s attention to focus on the specification of situations which, together with the HOM assumptions, form the basis of explanations and predictions of human behavior. Using this methodology, we will integrate recent findings in behavioral economics and show how a rather classical rational choice approach to ethics may contribute to explaining the emergence, salience and persistence of morality.
Publication Year: 2018
Publication Date: 2018-07-09
Language: en
Type: article
Indexed In: ['crossref']
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