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In mathematics, "rational" is often used as a noun abbreviating "rational number". The adjective rational sometimes means that the coefficients are rational numbers. For example, a rational point is a point with rational coordinates (i.e., a point whose coordinates are rational numbers); a rational matrix is a matrix of rational numbers; a rational polynomial may be a polynomial with rational ...
The rational planning model is a model of the planning process involving a number of rational actions or steps. Taylor (1998) outlines five steps, as follows: [1] Definition of the problems and/or goals;
[3] In 1973, Thomas J Sargent published the article “Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment” which was an important contribution to the development and application of the concept of rational expectations in economic theory and policy. By assuming individuals are forward-looking and rational ...