Scientific Definition
The mythical fully rational, self-interested, utility-maximizing agent neoclassical models assume.
Plain-English Definition
The mythical fully rational, self-interested, utility-maximizing agent neoclassical models assume.
Feynman Explanation
Cited often. Met never.
Core Principle
The mythical fully rational, self-interested, utility-maximizing agent neoclassical models assume.
Mechanisms
Pending editorial review.
The mythical fully rational, self-interested, utility-maximizing agent neoclassical models assume.
Pending editorial review.
Pending editorial review.
Pending editorial review.
Pending editorial review.
If your strategy only works for homo economicus, it does not work.
Inputs (Triggers)
Pending editorial review.
Outputs (Behaviors)
Pending editorial review.
Behavioral Signature
Cited often. Met never.
Examples
- The textbook chooser who never anchors, never loves, never gets tired, never regrets.
- If your strategy only works for homo economicus, it does not work.
Pending editorial review.
Famous Experiments
Pending editorial review.
Design Principles
- Design for the human in the chair, not the agent in the equation.
Measurement Approaches
Pending editorial review.
Evidence
Pending editorial review.
Pending editorial review.
The Perverse Incentive Lens™
How this behavior is exploited — and how to redesign around it.
- Design for the human in the chair, not the agent in the equation.
Pending editorial review.
Pending editorial review.
Interactive Mini Network
Click any neighbor to re-center the graph and follow the threads of connection.
Knowledge Graph Neighbors
Auto-linked to the rest of the Human Behavior Taxonomy by family, domain, dimension, and shared keywords.
Exploiting price differences between markets for risk-free profit.
The study of how real humans actually decide — bounded, social, emotional, and inconsistent.
With clear property rights and low transaction costs, parties negotiate to efficient outcomes.
Specialize in what you give up the least to do.
Complements raise each other's value; substitutes lower it.
Fixed costs don't scale with output; variable costs do.
Innovation destroys old industries and creates new ones.
Each additional unit produces less marginal benefit.
A long-run planner self in conflict with a short-run impulsive self.
Owning something raises its valuation — sellers want more to give it up than buyers will pay to acquire.
Bad money drives out good when both are legally equivalent.
One party has more or better information than another.