RATIONAL VS IRRATIONAL DECISIONS

Rational vs. Irrational Decisions

Rational vs. Irrational Decisions

Rational Choice theorists make many assumptions about human nature. They assume that we are all entirely self-interested, that we will always look for the most effective way to achieve our personal goals. In our self-interest, we are also rational, and will not make irrational decisions. A collection of people will have a diverse range of interests and preferences, and so will not all be fighting for the same things, but conflict may occur between opposing preferences (Friedmann 2007). In rational choice theory, ideology takes a back seat to pragmatism, as rational actors ...