Human needs and utility maximization
International Journal of Social Economics
ISSN: 0306-8293
Article publication date: 15 February 2011
Abstract
Purpose
The purpose of this paper is to provide alternatives to the economic man image of human behavior and incorporate these alternative images which are based on motivational needs into utility analysis.
Design/methodology/approach
Empirically derived psychological variables define the individual's personality type in terms of an altruistic or non‐altruistic orientation. These variables are incorporated into the individual's utility function, and an analysis is made of utility maximization based on human needs.
Findings
Behavioral and motivational characteristics of individuals are relatively constant and are a function of the underlying personality traits of the individuals. Empirical support is offered for these characteristics, they are incorporated into the individual's utility function, and an analysis if performed on the interactions between individuals.
Originality/value
This paper not only goes beyond the economic man image of human behavior to analyze altruistic and selfish behavior but also analyzes the utility functions of both potential donors and recipients.
Keywords
Citation
Freeman, K.B. (2011), "Human needs and utility maximization", International Journal of Social Economics, Vol. 38 No. 3, pp. 224-236. https://doi.org/10.1108/03068291111105174
Publisher
:Emerald Group Publishing Limited
Copyright © 2011, Emerald Group Publishing Limited