Synopsis on Rational Choice
Date Submitted: 08/12/2004 07:57:43
Category: / Business & Economy / Economics
Length: 5 pages (1373 words)
Category: / Business & Economy / Economics
Length: 5 pages (1373 words)
In this synopsis I intend to analyse the rational choice model and its relevance in economic theory, using the utility theory as an example. Firstly I will define and explain rational choice and then introduce utility theory. From there I will move on to outlining some of the major criticisms of the rational choice model.
Rational choice is a psychological model directed at testing and analysing the rationality of individuals decisions. It was introduced to …
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