Questions and Answers
What is the primary objective of rational individuals according to the rational choice theory?
To maximize their self-interest
What is the concept associated with the idea that individuals actively try to maximize their advantage in any situation?
Rational Actors
What is the title of the book published by Adam Smith in 1776, which laid the foundation for the rational choice theory?
An Inquiry Into the Nature and Causes of the Wealth of Nations
According to the rational choice theory, what is the expected outcome of individuals making rational decisions?
Signup and view all the answers
What is the concept associated with the idea that individuals' self-interested decisions lead to a socially beneficial outcome?
Signup and view all the answers
