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The rational choice model, also called rational choice theory refers to a set of guidelines that help understand economic and social behaviour. [1] The theory originated in the eighteenth century and can be traced back to the political economist and philosopher Adam Smith . [ 2 ]
His most influential books are An Economic Theory of Democracy (1957) and Inside Bureaucracy (1967); widely translated, both are credited as major influences on the public choice school of political economy. [2] [22] [23] He was a visiting fellow at the Public Policy Institute of California in San Francisco, between 2004 and 2005. [22]
Rational choice institutionalism (RCI) is a theoretical approach to the study of institutions arguing that actors use institutions to maximize their utility, and that institutions affect rational individual behavior. [1] [2] Rational choice institutionalism arose initially from the study of congressional behaviour in the U.S. in the late 1970s. [3]
March and Olsen distinguish the logic of appropriateness from what they term the "logic of consequences," more commonly known as rational choice theory.The logic of consequences is based on the assumption that actors have fixed preferences, will make cost-benefit calculations, and choose among different options by evaluating the likely consequences for their objectives.
Rational choice institutionalism; Rational ignorance; Rational irrationality; Red tape; Regulatory capture; Regulatory economics; Rent extraction; Rent-seeking; Rent-setting; Revolving door (politics)
Public choice theory (4 C, 60 P) U. ... Pages in category "Rational choice theory" The following 28 pages are in this category, out of 28 total. ... you agree to the ...
Since voter behavior influences public officials' behavior, public-choice theory often uses results from social-choice theory. General treatments of public choice may also be classified under public economics. [7] Building upon economic theory, public choice has a few core tenets. One is that no decision is made by an aggregate whole.
The mainstream tradition of policy studies has been criticized for oversimplifying the processes of public policy, particularly in use of models based on rational choice theory, failing to capture the current dynamics in today's society as well as sustaining ambiguities and misunderstandings. In contrast, an anthropological approach to studying ...