From Homo Oeconomicus to Homo Praeventicus

ABSTRACT: Standard economic models primarily captured human beings to be rational utility maximizers in the homo oeconomicus model. Behavioral economics addressed human decision making fallibility in a wide range of studies including laboratory and field experiments as well as big data. The currently ongoing COVID-19 crisis now underlines the importance of a healthy work environment. The medicine of the future is believed to prevent diseases instead of just treating their consequences. There is an expected shift from modern medicine’s focus on acute treatment to address the inherently-underlying preventive measures that diseases would have a more favorable trajectory or are even avoidable at all. The homo praeventicus model may focus on preventing diseases and working in advance on favorable immune conditions that avert negative outbreaks of pandemics or determine a healthier state when falling sick. The homo oeconomicus offers as a remedy to chronic diseases and a reduction of a global cost escalation for medical care. Because we have to live with environmental burdens on our health, a change of direction towards prevention is recommended and the implementation of homo praeventicus models envisioned. KEYWORDS: AI, Artificial Intelligence, Coronavirus, COVID-19, Discounting, Healthcare, Homo oeconomicus, Homo praeventicus, Medical care, Precautionary principle, Prevention, Trajector