A New Kind of Economy is Born - Social Decision-Makers Beat the "Homo Economicus"

Dirk Helbing

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arXiv · 1309.7453

A New Kind of Economy is Born - Social Decision-Makers Beat the "Homo Economicus"

Dirk Helbing

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Abstract

The Internet and Social Media change our way of decision-making. We are no longer the independent decision makers we used to be. Instead, we have become networked minds, social decision-makers, more than ever before. This has several fundamental implications. First of all, our economic theories must change, and second, our economic institutions must be adapted to support the social decision-maker, the "homo socialis", rather than tailored to the perfect egoist, known as "homo economicus".

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Dirk Helbing. 2013-09-28. A New Kind of Economy is Born - Social Decision-Makers Beat the "Homo Economicus". https://arxiv.org/abs/1309.7453

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