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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