Definition of Homo economicus in English:

Homo economicus

Pronunciation /ˌhəʊməʊ ˌɛkəˈnɒmɪkəs//ˌhɒməʊ ˌɛkəˈnɒmɪkəs/

noun

Economics
  • ‘using rational assessments, Homo economicus attempts to maximize utility as a consumer and economic profit as a producer’
    another term for economic man
    • ‘He can understand homo economicus better than he can real men.’
    • ‘In the city market, homo economicus is a 'rule-following animal'.’
    • ‘The neoclassical theory, then, assumes only one type of capitalist, homo economicus, who is rational.’
    • ‘To give a simple example, imagine Homo economicus in mate search, trying to find a woman to marry.’
    • ‘Homo economicus, by definition, is motivated by self-interest.’

Origin

Early 20th century: Latin.

Pronunciation

Homo economicus

/ˌhəʊməʊ ˌɛkəˈnɒmɪkəs//ˌhɒməʊ ˌɛkəˈnɒmɪkəs/