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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]
A political science model based on rational choice used to explain why citizens do or do not vote. The alternative equation is V = pB + D > C. Where for voting to occur the (P)robability the vote will matter "times" the (B)enefit of one candidate winning over another combined with the feeling of civic (D)uty, must be greater than the (C)ost of ...
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 ...
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 institutionalism; Rational ignorance; Rational irrationality; Red tape; Regulatory capture; Regulatory economics; Rent extraction; Rent-seeking; Rent-setting; Revolving door (politics)
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.