Rethinking homo economicus

Authors

Carlos Alberto Gómez Cano (ed)
Corporación Unificada Nacional de Educación Superior - CUN (Colombia)
https://orcid.org/0000-0003-0425-7201
Vugar Abdullayev (ed)
Azerbaijan State Oil and Industry University, Azerbaijan
https://orcid.org/0000-0002-3348-2267
DOI: https://doi.org/10.62486/978-9915-704-23-4

Keywords:

Homo economicus, Economic Rationality, Culture and Economics, Decolonial Economics, Social Embeddedness

Synopsis

Economic theory has traditionally portrayed individuals as rational agents driven by self- interest and measurable preferences. This representation, often summarized by the concept of homo economicus, has structured much of modern economic analysis and policy design. Yet growing evidence from social practice and comparative research suggests that this model captures only a narrow portion of human economic behavior. Rethinking Homo Economicus brings together contributions that question the universality of conventional economic rationality and explore alternative ways of understanding decision- making. With particular attention to African contexts, the book examines how economic actions are shaped by social ties, cultural values, moral obligations, and relationships with the natural environment. These factors introduce motivations and constraints that standard models frequently overlook. The chapters combine conceptual reflection with formal modeling and contextual analysis. Several authors develop theoretical frameworks that incorporate non-market variables such as community commitments, social recognition, and ecological concerns. Others discuss the implications of these perspectives for economic policy, development strategies, and institutional design. Throughout the book, attention is given to the practical consequences of applying abstract economic models to societies with distinct historical and cultural trajectories. Rather than offering definitive replacements for existing theories, the book recognizes the uncertainty involved in rethinking foundational concepts such as rationality, utility, and efficiency. By foregrounding complexity and context, it invites a more plural understanding of economic behavior. The volume contributes to ongoing debates on decolonial economics, social embeddedness, and sustainability, while encouraging dialogue between economic theory and lived experience.

Chapters

978-9915-704-23-4_Portada

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Published

March 17, 2026
Copyright (c) 2026 Carlos Alberto Gómez Cano (Volume editor); Jenrry Fredy Chávez Arizala, Melissa Tatiana Palacios Mite, Karen Vanessa Castro Guajan, Susgein Julissa Miranda Cansing, Ghassan AL-Thabhawee, Maad Mijwil, Hadeel M saleh, Sahar Yousif Mohammed, Klodian Dhoska, Bejarano Chalá Ruth Alexandra, Yelena Lucia Garofalo Campaña, Chantel Gabriela Aguiar Torrealba, Anastasia Kiritsi, Lisbeth Anahí Intriago Correa, María Rosa Ayala Gamarra, Ruth Alexandra Bejarano Chalá, Ronald Yesid Palencia Buelvas, Fausto Rubén Paredes Tello, Dayra Lisseth Quevedo Cortes, Janette Melvy Vallejos Araníbar, Jenrry Fredy Chávez-Arizala, Mostafa Abotaleb, Raed H. C. Alfilh, Ali Ssubhi Alhumaima, Olzhas Nessipbay, Madina Serikova, Gulmira Baenova, Derrick Mirindi (Chapter Author); Vugar Abdullayev (Volume editor); Khojiakbar Egamberdiev, B. Suvonov, Sh. Khayriddinov, Hussein Alkattan, Raximova Madina Shuhrat, Anvarova Lobarxon Sherzod, Damian Valdés Santiago, María de Lourdes Marrero Santos, Alegna Cruz Ruiz, Bakhodir Abdullayev, Elvia María Jiménez Zapata, Carlos Alberto Gómez Cano, Verenice Sánchez Castillo (Chapter Author)

License

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Details about the available publication format: PDF

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ISBN-13 (15)

978-9915-704-23-4

How to Cite

1.
Gómez Cano CA, Abdullayev V, editors. Rethinking homo economicus [Internet]. South American Publishing; 2026 [cited 2026 Sep. 29]. Available from: https://books.southam.pub/index.php/books/catalog/book/978-9915-704-23-4