Question

Which of the following statements is a valid critique of rational choice theory?A. People will rarely choose the acceptable option when they can choose an optimal option.B. People do not like to act predictably, even with perfect information.
C. Individual rationality is limited by the ability to conduct analysis.D. All of the above.

Answer 1

Answer:

B. People do not like to act predictably, even with perfect information.

Explanation:

Rational choice theory states that people tend to make logical calculations when they are trying to make choices. This is aimed at making sure that choices made are in line with their objectives.

The expectation is to provide the individual with greatest satisfaction.

Therefore people choose the optimal solution and not just the acceptable one.

The individual's ability to conduct analysis can limit their rationality.

However the statement that people do not act rationally even with perfect information is in conflict with the rational choice theory