Discover the concept of homo economicus, its origins, and why it's essential in economics. Explore its rational decision-making model and its limitations today.

Explore the principles of mainstream economics, its origins in neoclassical thought, and criticisms from heterodox theories. Discover how it impacts economic policies.

In a perfect world, all investors would make what finance professors call “rational economic decisions.” Essentially saying that as investors, our actions would be rational, risk-averse, and maximize ...

In 2008, a massive earthquake reduced the financial world to rubble. Standing in the smoke and ash, Alan Greenspan, the former chairman of the U.S. Federal Reserve once hailed as “the greatest banker ...

Decision theory is a cornerstone of economic analysis, providing a framework for understanding how individuals and institutions make choices under conditions of uncertainty and risk. At its core, the ...

Making good decisions is not easy, and making the best possible (“optimal”) decisions is even harder. Instead, humans often use shortcuts and rules of thumb. From firm managers and policymakers to ...

The Fast Company Executive Board is a private, fee-based network of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. BY Dan McKone It’s become an ...

You reported on a game theory simulation that showed people failed to reach a state of rational action, even after multiple failures and repeated feedback. This was said to be in variance with ...