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RATIONAL CHOICE THEORY: ASSUMPTIONS, STRENGHTS, AND GREATEST WEAKNESSES IN APPLICATION OUTSIDE THE WESTERN MILIEU CONTEXT

Authors: OGU Michael

Publication Type: Journal article

Journal: Arabian Journal Of Business And Management Review

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Abstract

This study reviewed the origin of the rational choice theory and how it came to be adopted as one of the major approaches or paradigms of analysis in the political science sub-field of contemporary political analysis, its basic hypothesis, underlying assumptions, and criticisms of the theory as well as application areas outside the western milieu context. The study adopted the qualitative approach to research, and referenced scholarly text books, articles, journals and monographs in the areas under investigation. The theory arguably, begins, from the viewpoint of the individual, as against viewing various individuals interacting and relating together, social situations, or groups. The emphasis on the individual interest has always been the starting point of the theory, even though some scholars have argued to the contrary.
Despite the steps involved in reaching rational decisions, choices and decisions are made simply by ‘muddling through’, as long as the decision made would likely lead to the perceived best possible outcome. Individuals hardly follow the steps provided in the rational model to reach decisions that they regard as rational. Rationality hence is a subjective phenomenon, since an individual from time to time can be both rational and irrational in reaching decisions

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OGU,M. . (2013). RATIONAL CHOICE THEORY: ASSUMPTIONS, STRENGHTS, AND GREATEST WEAKNESSES IN APPLICATION OUTSIDE THE WESTERN MILIEU CONTEXT, 1 (), 90-90.

OGU,M. . "RATIONAL CHOICE THEORY: ASSUMPTIONS, STRENGHTS, AND GREATEST WEAKNESSES IN APPLICATION OUTSIDE THE WESTERN MILIEU CONTEXT" 1, no (), (2013): 90-90.

OGU,M. and . (2013). RATIONAL CHOICE THEORY: ASSUMPTIONS, STRENGHTS, AND GREATEST WEAKNESSES IN APPLICATION OUTSIDE THE WESTERN MILIEU CONTEXT, 1 (), pp90-90.

OGUM, . RATIONAL CHOICE THEORY: ASSUMPTIONS, STRENGHTS, AND GREATEST WEAKNESSES IN APPLICATION OUTSIDE THE WESTERN MILIEU CONTEXT. 2013, 1 ():90-90.

OGU,Michael , . "RATIONAL CHOICE THEORY: ASSUMPTIONS, STRENGHTS, AND GREATEST WEAKNESSES IN APPLICATION OUTSIDE THE WESTERN MILIEU CONTEXT", 1 . (2013) : 90-90.

O.Michael , "RATIONAL CHOICE THEORY: ASSUMPTIONS, STRENGHTS, AND GREATEST WEAKNESSES IN APPLICATION OUTSIDE THE WESTERN MILIEU CONTEXT" vol.1, no., pp. 90-90, 2013.

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