Question

Rational choice theory became an approach to address many questions about human behavior outside the discipline of economics from whence it derived. Rational choice came to address many positive questions, reducing them to issues surrounding what a person will do when presented with certain choices.

Discuss the strengths and shortcomings of the predictive model of rational choice theory in realms of positive social science and normative social inquiry. What types of questions might be left unanswered by this approach? What does your response say about the value of predictive social science?

Answer 1

Rational choice theory is based on the premise that social behaviour is an aggregate of the behaviour of different individuals who determine their actions according to their own willfull decisions. The assumption here is that an individual has preferences among the available choice alternatives that allow them to state which option they prefer. Although, the theory is more prevalent in economics, it has also b3come popular in other social sciences such as Psychology, Political Science, Sociology and Philosophy.

Rational choice theory uses a narrower definition of rationality. At its most basic level, behavior is rational if it is goal-oriented, reflective (evaluative), and consistent (across time and different choice situations). The Predictive model of Rational choice theory does not claim that the theory describes the choice process, but rather that it predicts the outcome and pattern of choices. Individual preferences are self-interested. Such an individual acts as if she or he is balancing costs against benefits to arrive at action that maximizes personal gains. The model is helpful in formulating clear and falsifiable hypotheses and the only way to judge the success of a hypothesis is to put them to empirical tests.