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The ruin of Homo Oeconomicus

Van der Rijt, Jan-Willem (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, London, UK.

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Abstract

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: Monograph (Working Paper)
Official URL: http://www2.lse.ac.uk/CPNSS/Home.aspx
Additional Information: © 2006 The author
Library of Congress subject classification: H Social Sciences > HB Economic Theory
Sets: Research centres and groups > LSE Choice Group
Research centres and groups > Centre for Philosophy of Natural and Social Science (CPNSS)
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: vol. 2, no. 1
Date Deposited: 08 Feb 2010 11:43
URL: http://eprints.lse.ac.uk/27008/

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