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Choice theory (economics) : ウィキペディア英語版
Rational choice theory

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.〔• Lawrence E. Blume and David Easley (2008). "rationality," ''The New Palgrave Dictionary of Economics'' , 2nd Edition. (Abstract )." by Abstract] & (pre-publication copy ).
   • Amartya Sen (2008). "rational behaviour," ''The New Palgrave Dictionary of Economics'', 2nd Edition. (Abstract ).〕 The basic premise of rational choice theory is that aggregate social behavior results from the behavior of individual actors, each of whom is making their individual decisions. The theory therefore focuses on the determinants of the individual choices (methodological individualism).
Rational choice theory then assumes that an individual has preferences among the available choice alternatives that allow them to state which option they prefer. These preferences are assumed to be complete (the person can always say which of two alternatives they consider preferable or that neither is preferred to the other) and transitive (if option A is preferred over option B and option B is preferred over option C, then A is preferred over C). The rational agent is assumed to take account of available information, probabilities of events, and potential costs and benefits in determining preferences, and to act consistently in choosing the self-determined best choice of action.
Rationality is widely used as an assumption of the behavior of individuals in microeconomic models and analyses and appears in almost all economics textbook treatments of human decision-making. It is also central to some of modern political science,〔Susanne Lohmann (2008). "rational choice and political science,"''The New Palgrave Dictionary of Economics'', 2nd Edition.(Abstract ).〕 sociology,〔Peter Hedström and Charlotta Stern (2008). "rational choice and sociology," ''The New Palgrave Dictionary of Economics'', 2nd Edition. (Abstract. )〕 and philosophy. A particular version of rationality is 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.〔Gary S. Becker (1976). ''The Economic Approach to Human Behavior''. Chicago. (Description ) and scroll to chapter-preview (links. )〕 Becker won the 1992 Nobel Memorial Prize in Economic Sciences for his studies of discrimination, crime, and human capital.〔Nobel Prize Committee (press release )〕
==Definition and scope==
The concept of rationality used in rational choice theory is different from the colloquial and most philosophical use of the word. Colloquially, "rational" behaviour typically means "sensible", "predictable", or "in a thoughtful, clear-headed manner." Rational choice theory uses a narrower definition of rationality. At its most basic level, behavior is rational if it is goal-oriented, reflective (evaluative), and consistent (across time and different choice situations). This contrasts with behavior that is random, impulsive, conditioned, or adopted by (unevaluative) imitation.
Early neoclassical economists writing about rational choice, including William Stanley Jevons, assumed that agents make consumption choices so as to maximize their happiness, or utility. Contemporary theory bases rational choice on a set of choice axioms that need to be satisfied, and typically does not specify where the goal (preferences, desires) comes from. It mandates just a consistent ranking of the alternatives. Individuals choose the best action according to their personal preferences and the constraints facing them. E.g., there is nothing irrational in preferring fish to meat the first time, but there is something irrational in preferring fish to meat in one instant and preferring meat to fish in another, without anything else having changed.
Rational choice theorists do not claim that the theory describes the choice ''process'', but rather that it predicts the outcome and pattern of choices.
An assumption often added to the rational choice paradigm is that individual preferences are self-interested, in which case the individual can be referred to as a homo oeconomicus. Such an individual acts ''as if'' balancing costs against benefits to arrive at action that maximizes personal advantage.〔Milton Friedman (1953), ''Essays in Positive Economics'', pp. 15, 22, 31.〕 Proponents of such models, particularly those associated with the Chicago school of economics, do not claim that a model's assumptions are an accurate description of reality, only that they help formulate clear and falsifiable hypotheses. In this view, the only way to judge the success of a hypothesis is empirical tests.〔 To use an example from Milton Friedman, if a theory that says that the behavior of the leaves of a tree is explained by their rationality passes the empirical test, it is seen as successful.
Without specifying the individual's goal or preferences it may not be possible to empirically test, or falsify, the rationality assumption. However, the predictions made by a specific version of the theory are testable. In recent years, the most prevalent version of rational choice theory, expected utility theory, has been challenged by the experimental results of behavioral economics. Economists are learning from other fields, such as psychology, and are enriching their theories of choice in order to get a more accurate view of human decision-making. For example, the behavioral economist and experimental psychologist Daniel Kahneman won the Nobel Memorial Prize in Economic Sciences in 2002 for his work in this field.
Rational choice theory has become increasingly employed in social sciences other than economics, such as sociology, evolutionary theory and political science in recent decades.〔http://plato.stanford.edu/entries/game-evolutionary/〕 It has had far-reaching impacts on the study of political science, especially in fields like the study of interest groups, elections, behaviour in legislatures, coalitions, and bureaucracy. In these fields, the use of the rational choice paradigm to explain broad social phenomena is the subject of active controversy.〔Donald P. Green and Ian Shapiro (1994). ''Pathologies of Rational Choice Theory: A Critique of Applications in Political Science''. Yale University Press.〕

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