[PEN-L:4805] Re: econ. and cognitive psychology

[egglesto@xxxxxxxxxxxxxx (Brian Eggleston)]

I don't think a staunch NC economist would accept the idea
that "homo economicus need only be concerned with maximizing
his/her own utility function and has no concern for others"
(as noted by C., Murphy in a recent post).

He/she (the NC) would argue that the utility function could
include "concern for others".   BTW, I don't buy this but
have encountered similar so often that I suspect that's the
argument you'd get.

I have (for as long as I can remember) always told my principles
students that homo economicus is a psychopath or sociopath.  I
thought that this stemmed from the fact that my spouse is a
therapist but maybe I saw it in print.

Brian
*-------------------------------*------------------------------------------*
| Brian Eggleston, Ph.D.        |                                          |
| Associate Professor and Chair | "It is by invisible hands that we are    |
| Department of Economics       |  bent and tortured worst."               |
| Augustana College             |                                          |
| Sioux Falls, SD 57197         |  Nietzsche, Thus Spoke Zarathustra       |
| egglesto@xxxxxxxxxxxxxx       |                                          |
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