Key takeaways and triggers from Rational Choice Theory:

  1. Individuals are rational actors who make decisions based on their preferences and available information.
  2. Rationality does not necessarily mean that individuals are always fully informed or make optimal decisions, but rather that they are strategic in pursuing their goals.
  3. Rational Choice Theory can be used to explain a wide range of social phenomena, from individual behavior to institutional processes.
  4. Rational Choice Theory assumes that individuals have the ability to calculate and compare the costs and benefits of different actions.
  5. Rational Choice Theory emphasizes the importance of incentives, such as rewards and punishments, in shaping individual behavior.
  6. Rational Choice Theory can be used to analyse social interactions and relationships, such as bargaining, cooperation, and conflict.
  7. Critics of Rational Choice Theory argue that it oversimplifies human behavior and ignores important social and cultural factors that shape decision-making.
  8. Despite its limitations, Rational Choice Theory remains a useful tool for analyzing social behavior and decision-making in many contexts.
  9. Rational choice theory is often a good starting point when trying to explain social behaviour. Evaluate the theory and its strengths and weaknesses for the specific context and go from there, possibly using additional theories to fill in the gaps left by the RCT.

Key theorists:

  1. Max Weber - Weber's work on rationality laid the foundation for Rational Choice Theory's emphasis on rationality and decision-making.
  2. Emile Durkheim - Durkheim's concept of social facts and his emphasis on the importance of social norms and values have been incorporated into Rational Choice Theory's understanding of social behavior and decision-making.
  3. Georg Simmel - Simmel's work on social exchange and the bargaining process has been influential in the development of Rational Choice Theory's analysis of social interactions and relationships.
  4. James Coleman - Coleman's work on social capital and rational action has contributed to Rational Choice Theory's understanding of how social networks and resources can influence individual behavior.
  5. Gary Becker - Becker's work on human capital and the economics of discrimination has helped to bridge the gap between economics and sociology, and has been influential in the development of Rational Choice Theory. Becker's fundamental argument is that the majority of human behavior, beyond the usual economic activities of purchasing and investing, is governed by rational economic choices that are based on self-interest.
  6. Anthony Giddens - Giddens' theory of structuration, which emphasizes the interplay between individual action and social structures, has been used to develop a more nuanced understanding of how Rational Choice Theory operates in different contexts.