Abstract

MORONG, Cyril. THE INTERSECTION OF ECONOMIC SIGNALS AND MYTHICAL SYMBOLS. Rev.econ.inst. [online]. 2007, vol.9, n.16, pp.15-33. ISSN 0124-5996.

Mythical symbols and economic signals represent more than what they are. Symbols represent universal ideas and themes and evoke feelings and emotions, while economic signals are simple, efficient signs that stand for a more complex set of characteristics and information that are costly to learn. Symbols deal with the irrational and economic signals deal with the rational. Many of the signals cited in economic literature work well because they have a symbolic element that speaks to people’s emotions. By evoking emotions, a signal makes the receiver feel more confident about the truthfulness of the information it represents. The intersection of symbols and signals illustrates the relationship between the rational world of facts and irrational world of emotions and values, a relationship which needs to be explored as part of the development of the ideal type of homo socio economicus, the selfish yet value and community-driven person.

Keywords : economic signals; mythical symbols; rationality; emotions.

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