What does rational choice theory mean?
Definitions for rational choice theory
ra·tio·nal choice the·o·ry
This dictionary definitions page includes all the possible meanings, example usage and translations of the word rational choice theory.
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Rational choice theory
Rational choice theory, also known as choice theory or rational action theory, is a framework for understanding and often formally modeling social and economic behavior. Rationality, interpreted as "wanting more rather than less of a good", is widely used as an assumption of the behavior of individuals in microeconomic models and analysis and appears in almost all economics textbook treatments of human decision-making. It is also central to some of modern political science, sociology, and philosophy. It attaches "wanting more" to instrumental rationality, which involves seeking the most cost-effective means to achieve a specific goal without reflecting on the worthiness of that goal. Gary Becker was an early proponent of applying rational actor models more widely. Becker won the 1992 Nobel Memorial Prize in Economic Sciences for his studies of discrimination, crime, and human capital.
Numerology
Chaldean Numerology
The numerical value of rational choice theory in Chaldean Numerology is: 9
Pythagorean Numerology
The numerical value of rational choice theory in Pythagorean Numerology is: 8
Translations for rational choice theory
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- तर्कसंगत विकल्प सिद्धांतHindi
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"rational choice theory." Definitions.net. STANDS4 LLC, 2024. Web. 28 Apr. 2024. <https://www.definitions.net/definition/rational+choice+theory>.
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