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Posted by 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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