rational action theory

English - English

Definition of rational action theory in English English dictionary

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. It is the main theoretical paradigm in the currently-dominant school of microeconomics. Rationality ("wanting more rather than less of a good") is widely used as an assumption of the behavior of individuals in microeconomic models and analysis and appears in almost all economics textbook treatments of human decision-making. It is also central to some of modern political science and is used by some scholars in other disciplines such as sociology and philosophy. It is the same as instrumental rationality, which involves seeking the most cost-effective means to achieve a specific goal without reflecting on the worthiness of that goal. Gary Becker was an early proponent of applying rational actor models more widely. He won the 1992 Nobel Memorial Prize in Economic Sciences for his studies of discrimination, crime, and human capital

Hyphenation

ra·tion·al ac·tion the·o·ry

Turkish pronunciation

räşnıl äkşın thiıri

Pronunciation

/ˈrasʜnəl ˈaksʜən ˈᴛʜēərē/ /ˈræʃnəl ˈækʃən ˈθiːɜriː/