Published : 2026-06-30

The Household – An Underappreciated Entity in Economic Theory

Abstract

The purpose of this study was to present the evolution of the understanding of the category and contexts of the household against the backdrop of the development of economic theory, to highlight the cognitive deficit regarding this entity, and to attempt to identify potential components of a theory of the household, along with sources of support for such a theory within the existing body of work of economic schools and schools of thought.

The study is based on an analysis of schools and trends in economic theory and the history of economic thought. It employs a broadly critical analysis of the relevant literature and the findings of the history of economic thought.

The research conducted allowed us to conclude that in economic theory, or in contemporary times, much more attention is devoted to the individual (the person) than to the group of people constituting a household, and even when studies are conducted with regard to these complex entities, the analyses do not always reflect the processes (choices, decision-making) occurring within them, which result from the reactions and counter-reactions of its members to their broadly understood environment. Therefore, in the authors’ view, households as research subjects deserve a comprehensive theory that describes the relationships occurring within them, including decision-making processes, based on their past experiences and learning capabilities.

Keywords:

household, economic theory, consumption, decisions, behavior



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Kotlińska, J., Błasiak, Z. A., Kotliński, G., & Kuśpit, J. (2026). The Household – An Underappreciated Entity in Economic Theory. Journal for Perspectives of Economic Political and Social Integration, 32(1), 357–384. https://doi.org/10.18290/pepsi-2026-0012

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