Rational choice model

Rational choice modeling refers to the use of decision theory (the theory of rational choice) as a set of guidelines to help understand economic and social behavior.[1][2] The theory tries to approximate, predict, or mathematically model human behavior by analyzing the behavior of a rational actor facing the same costs and benefits.[3][4]

Rational choice models are most closely-associated with economics, where mathematical analysis of behavior is standard. However, they are widely-used throughout the social sciences, and are commonly applied to cognitive science, criminology, political science,[5] and sociology.[6]

  1. ^ Lawrence E. Blume and David Easley (2008). "[Rationality]," The New Palgrave Dictionary of Economics, 2nd Edition. http://www.dictionaryofeconomics.com/article?id=pde2008_R000277&q Abstract[permanent dead link]." by Abstract & pre-publication copy Archived 2009-11-06 at the Wayback Machine.
       Amartya Sen (2008). "Rational Behaviour," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract Archived 2018-01-11 at the Wayback Machine.
  2. ^ Boudon, Raymond (August 2003). "Beyond Rational Choice Theory". Annual Review of Sociology. 29 (1): 1–21. doi:10.1146/annurev.soc.29.010202.100213. ISSN 0360-0572. Archived from the original on 2022-09-21. Retrieved 2022-01-15.
  3. ^ Gary Browning, Abigail Halcli, Frank Webster (2000). Understanding Contemporary Society: Theories of the Present, London: Sage Publications.
  4. ^ Levin, J. and Milgrom, P., 2004. Introduction to choice theory. Available from internet: http://web. stanford. edu/~ jdlevin/Econ, 20202
  5. ^ Susanne Lohmann (2008). "Rational Choice and Political Science," The New Palgrave Dictionary of Economics, 2nd Edition.Abstract Archived 2013-05-22 at the Wayback Machine.
  6. ^ Peter Hedström and Charlotta Stern (2008). "Rational Choice and Sociology," The New Palgrave Dictionary of Economics, 2nd ed., Abstract. Archived 2017-01-17 at the Wayback Machine

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