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Rational choice theory - Wikipedia

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Rational choice theory refers to a set of guidelines that help understand economic and social behaviour.[1] The theory originated in the eighteenth century and can be traced back to political economist and philosopher, Adam Smith.[2] The theory postulates that an individual will perform a cost–benefit analysis to determine whether an option is right for them.[3] It also suggests that an individual's self-driven rational actions will help better the overall economy. Rational choice theory looks at three concepts: rational actors, self interest and the invisible hand.[4] Rationality can be used as an assumption for the behaviour of individuals in a wide range of contexts outside of economics. It is also used in political science,[5] sociology,[6] and philosophy.[citation needed] The basic premise of rational choice theory is that the decisions made by individual actors will collectively produce aggregate social behaviour. The theory also assumes that individuals have preferences out of a

Rational choice model - Wikipedia Jump to content From Wikipedia, the free encyclopedia (Redirected from Rational choice theory ) Class of models in the behavioral sciences This article is about a theory of economics. For rational choice theory as applied to criminology, see Rational choice theory (criminology) . For rational choice theory as applied to international relations, see Rationalism (international relations) . This article has multiple issues. Please help improve it or discuss these issues on the talk page . ( Learn how and when to remove these messages ) This article includes a lis

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