This paper discusses the development of the rational choice theory.
Written in 2004; 1,565 words; 5 sources; APA; $ 51.95
Paper Summary:
This paper explains that the rational choice theory, which defines a rational action as the maximization of causal profit, was essentially developed as an economic theory, but has been extended to other realms as well. The author explains that the theory, which was expanded to the area of sociology by Max Weber, Talcott Parsons, and George Homans, was challenged for its lack of empirical support. The paper concludes that rational theory now has been thoroughly tested empirically and found to be based on a sound premise; the theory may not apply to all people in all situations, but it highlights a strong correlation between rationality and man's decision making behavior.
From the Paper:
"When we are faced with a decision, there are always some options involved. Which path is the correct one, which option would best serve our purpose, which choice appears most suitable are some of the key questions on which we base our decision. Man by nature is interested in maximization of his profits whether professional or personal. No one would deliberately want to take a risk that is bound to go awry. In almost every case, man carefully studies the situation and then chooses the best option available to him. And this is not something limited to money matters but extends itself to almost every area of life including social relationships, religion, politics and other areas."
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