Rational choice theory says individuals make choices that result in outcomes aligned with their best interests.

The Meaning of Rational Choice Theory. Rational choice theory (RCT) theorists believe that most human decisions are based on maximizing a person's own benefits, while minimizing that which can ...

There is a surprising disconnect between formal rational choice theory and philosophical work on reasons. The one is silent on the role of reasons in rational choices, the other rarely engages with ...

“Rational choice has come quite a way,” a Stanford University professor, Barry Weingast, said. “Thirty years ago, it was far outside the mainstream in political science in almost every respect.” Mr.

This paper examines the implications of the Rational Choice Theory (RCT) as the model of decision-making in economics and politics. The model considers a decision to be rational if its benefits exceed ...

The third check against the theory of the rational consumer is the fact that we're social animals. We let our friends and family and tribes do our thinking for us.

More than half a century ago, Herbert Simon (1957) argued that the goal of utility maximization, as formulated by rational choice theory, is nearly impossible to achieve in real life.