What is Rational Choice Theory
Rational choice theory refers to a set of guidelines that help understand economic and social behaviour. The theory originated in the eighteenth century and can be traced back to the political economist and philosopher Adam Smith. The theory postulates that an individual will perform a cost-benefit analysis to determine whether an option is right for them. 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.
How you will benefit
(I) Insights, and validations about the following topics:
Chapter 1: Rational choice theory
Chapter 2: Microeconomics
Chapter 3: Neoclassical economics
Chapter 4: Utility
Chapter 5: Public choice
Chapter 6: Bounded rationality
Chapter 7: Homo economicus
Chapter 8: Arrow's impossibility theorem
Chapter 9: Behavioral economics
Chapter 10: Prospect theory
Chapter 11: Consumer choice
Chapter 12: Decision theory
Chapter 13: Structure and agency
Chapter 14: Expected utility hypothesis
Chapter 15: Ellsberg paradox
Chapter 16: Robert Sugden (economist)
Chapter 17: Preference (economics)
Chapter 18: Preference
Chapter 19: Rational choice institutionalism
Chapter 20: Altruism theory of voting
Chapter 21: Formalist-substantivist debate
(II) Answering the public top questions about rational choice theory.
(III) Real world examples for the usage of rational choice theory in many fields.
Who this book is for
Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Rational Choice Theory.
