In this synopsis I intend to analyse the rational choice model and its relevance in economic theory, using the utility theory as an example. Firstly I will define and explain rational choice and then introduce utility theory. From there I will move on to outlining some of the major criticisms of the rational choice model. Rational choice is a psychological model directed at testing and analysing the rationality of individuals decisions. It was introduced to …
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showed last 75 words of 1373 total
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