Explain rational choice theory--include in your answer the focus and appropriate terms. Describe a recent interaction you have had where you can apply rational choice theory. What are the limitations of this theory as it applies to your interaction?

Question

What will be an ideal response?

Answer 1

• Rational choice theory focuses on actors who are seen as being purposive or as having intentionality, that is, actors have ends or goals toward which their actions are aimed.
• Actors are also seen as having preferences (or values, utilities). Rational choice theory is unconcerned with what these preferences, or their sources, are. Of importance is the fact that actors undertake actions to achieve objectives consistent with their preference hierarchies.
• Rational choice theory must take into account scarcity of resources and opportunity costs, or the costs of forgoing the next most attractive action, as well as the constraints imposed by social institutions.
• Examples will vary but should address how the components of this theory apply to the interaction and give adequate responses to why this theory is limited as it applies to the interaction.