Posted by admin on Jun 13, 2018 in Physics | 0 comments
Rational Choice Perspective
• What does it mean when a decision is rational?
• Someone weighs the costs and benefits of engaging in some
behavior and when the benefits outweigh the costs, we engage in
said behavior.• f(U) = individuals getting the most out of a situation with
the least effort.
Assumptions of Rational Choice Perspective
• An individual has precise information about exactly what
will occur under any choice made.
• An individual has the cognitive ability to weigh every
choice
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