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.

Rational choice theory (RCT) theorists believe that most human decisions are based on maximizing a person's own benefits, while minimizing that which can hurt the individual, according to Business ...

Jorhat, Feb. 2: Dilip Kumar Datta, professor emeritus of Rhode Island University, USA, has eased the definition of rational numbers, which has been widely accepted by the mathematics teachers' ...

Humans are often full of uncertainties as we face life’s daily challenges. A meteorologist might tell us there’s a 60% chance of snow today, or an economist might say she’s 40% certain that a stock ...