Home » Homer Economicus or Homer Sapiens? Behavioral Economics in The Simpsons by Jodi Beggs
Homer Economicus or Homer Sapiens? Behavioral Economics in The Simpsons Jodi Beggs

Homer Economicus or Homer Sapiens? Behavioral Economics in The Simpsons

Jodi Beggs

Published May 6th 2011
ISBN :
Kindle Edition
32 pages
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 About the Book 

Behavioral economists study the ways in which people act irrationally (i.e. at odds with their objective long-term best interests), and behavioral economics research has identified and characterized a number of consistent biases in decision making.MoreBehavioral economists study the ways in which people act irrationally (i.e. at odds with their objective long-term best interests), and behavioral economics research has identified and characterized a number of consistent biases in decision making. An interesting feature of the characters in The Simpsons is that they illustrate many of the specific biases that behavioral economists study, including time-inconsistency, loss aversion, bounded rationality, and susceptibility to framing effects. Despite these “Human” characteristics, however, none of the characters can be viewed as purely rational or irrational, and this feature contributes to the relevancy and longevity of the show. This brief work gives the reader an overview of behavioral economics principles using quotes and anecdotes from The Simpsons as motivating examples.