Definitions by Homo economicus
Econ
Short for Homo economicus. A hypothetical agent used in economic modeling who exhibits perfect rationality, consistent preferences, and complete self-interest. Unlike a human, an Econ is assumed to possess infinite computational ability to process information and always selects the option that maximizes their personal utility (satisfaction or wealth).
"If we assume the consumer is an Econ, then increasing the price by even $0.01 should immediately lower demand, but brand loyalty often keeps Humans from switching."
"My brother is a total Econ; he spent three hours building a spreadsheet to decide which brand of toothpaste has the best cost-per-ounce ratio."
"My brother is a total Econ; he spent three hours building a spreadsheet to decide which brand of toothpaste has the best cost-per-ounce ratio."
Econ by Homo economicus January 8, 2026