Homo economicus, behavioural economics and paternalism

Abstract

This chapter deals with a controversial fundamental problem of economics, homo economicus and the criticism of the "behavioural school" of this behavioural model. The current criticism of the homo economicus has produced important literature which demands a more paternalistic social and legal order based on the observable weaknesses of people's will and decision-making processes. This poses a challenge for jurisprudence and the economic analysis of law. In this chapter we therefore contextualise these problems.