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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 ]
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]
The budget-maximizing model is a stream of public choice theory and rational choice analysis in public administration inaugurated by William Niskanen.Niskanen first presented the idea in 1968, [1] and later developed it into a book published in 1971. [2]
Rational choice (also termed rationalism) is a prominent framework in international relations scholarship. Rational choice is not a substantive theory of international politics, but rather a methodological approach that focuses on certain types of social explanation for phenomena. [1]
Public choice, or public choice theory, is "the use of economic tools to deal with traditional problems of political science." [ 1 ] It includes the study of political behavior .
Rational choice institutionalism is a theoretical approach to the study of institutions arguing that actors use institutions to maximize their utility. [ 37 ] [ 38 ] Institutions are understood to be exogenously given constraints ("rules of the game") on rational individual behavior.
Social choice theory is a branch of welfare economics that extends the theory of rational choice to collective decision-making. [1] Social choice studies the behavior of different mathematical procedures ( social welfare functions ) used to combine individual preferences into a coherent whole.
The rational planning model of decision-making is a process for making sound decisions in policy-making in the public sector. Rationality is defined as “a style of behavior that is appropriate to the achievement of given goals, within the limits imposed by given conditions and constraints”. [16]