Rational Choice Theory states that people use rational calculations to make rational choices and achieve outcomes that are aligned with their own, personal objectives.Įveryone makes choices by first considering the costs, risks, and benefits of making certain choices. Rational choice theory is used today in domains as diverse as political science, economics, and sociology.Rational choice theory has both fanatical followers and harsh critics, creating justifications and endangering arguments against phenomena seemingly paradoxical to rational choice theory.The most important of these are that people make choices due to a consideration of costs and rewards, people will only carry out an action when the benefit of an action outweighs its cost and will stop doing an action when cost outweighs benefit, and individuals use the resources at their disposal to optimize rewards. Rational choice theory uses axioms to understand human behavior.The underlying notion of rational choice theory dates back to classical economists such as Adam Smith, but the theory was not adopted into sociology officially until the 1950s and 1960s.The perceived costs, risks, benefits of certain actions can be dependent on one’s own personal preferences. According to rational choice theory, people calculate the costs and benefits of choices in making decisions.
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