Economic man theory

The Economic Man theory assumes individuals are fully rational decision-makers who seek to maximize their personal benefit or utility. It suggests people consistently evaluate options to make choices that provide the greatest possible gains, often in financial or material terms. This model simplifies human behavior for economic analysis, assuming decisions are logical and based on complete information. While it helps understand market behavior, it doesn't always reflect real human emotions or irrationalities, but serves as a foundational concept in economics for studying how people and markets might behave under idealized conditions.