In Search of Homo economicus

Homo economicus, a model for humans in neoclassical economics, is a rational maximizer of self-interest. However, many social scientists regard such a person as a mere imaginary creature. We found that 31 of 446 residents of relatively wealthy Tokyo suburbs met the behavioral definition of Homo economicus. In several rounds of economic games, participants whose behavior was consistent with this model always apportioned the money endowed by the...