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Rational choice theory is a framework for modeling social and economic behavior that assumes humans are logical such that they are goal-oriented, analytical, evaluative and consistent. This framework is widely used in economics, sociology and political science and underlies many of the most important and well accepted theories in these domains.What does rational choice theory stand for?
Rational choice theory, also known as choice theory or rational action theory, is a framework for understanding and often formally modeling social and economic behavior. The basic premise of rational choice theory is that aggregate social behavior results from the behavior of individual actors, each of whom is making their individual decisions.