Can homo economicus follow Kant’s categorical imperative?

Abstract

This paper incorporates Immanuel Kant’s duty-based system of ethics into the neoclassical model of rational choice. We briefly summarize the most relevant aspects of Kant’s ethics, focusing on his distinction between perfect and imperfect duties. We then explain how each one can fit easily into economists’ conception of decision-making, which will allow economic models of choice to include a wider variety of ethical motivations beyond the typical egoism or utilitarianism implicitly assumed.