neoclassical
adj.adj. describing a style of art, architecture, or music that looks like the old styles of ancient Greece and Rome. It is also used in economics to describe theories that focus on how people make choices based on logic and information.
adj. relating to a style of art, architecture, or music that emulates the forms and principles of ancient Greek and Roman design. In economics, it refers to a school of thought that emphasizes rational choice, market equilibrium, and the efficient allocation of resources.
The new museum building has a beautiful neoclassical design.
The city's main square is dominated by a neoclassical temple that was built in the early nineteenth century.
While the neoclassical approach to economics assumes perfect information and rational actors, modern behavioral models often challenge these foundational principles by incorporating psychological biases into the equation.