Rational Choice Theory: Optimizing pleasure and profit (by whom?)

Rational choice theory, also known as choice theory or rational action theory, is a framework for understanding and often formally modeling social and economic behavior.

The basic premise of rational choice theory is that aggregate social behavior results from the behavior of individual actors, each of whom is making their individual decisions. The theory therefore focuses on the determinants of the individual choices (methodological individualism).

Read full article here.

#RationalChoiceTheory #Profit #Economy #Psychology #Behavior #Individualism #Choice