Rational choice theory is an economic theory that assumes rational behavior on the part of individuals. Rational behavior may not involve receiving the most monetary or material benefit ...

Rational choice theory (RCT) theorists believe that most human decisions are based on maximizing a person's own benefits, while minimizing that which can hurt the individual, according to Business ...

By definition, voluntary exchange between ... do governments in the United States and elsewhere. Rational choice, the premise of market theory, also explains why public and private interests ...

and the centipede game—and underscores the contradictions between intuition and reasoning and between the predictions of rational choice theory and actual behavior. Such seemingly irrational ...

To read the series introduction, click here. RAND is the cradle of rational-choice theory, a rigorously utilitarian mode of thought with applications to virtually every field of social science.