Question #235526
Motivate the theoretical and methodological choices. Critically discuss the advantages and disadvantages of the choices of theory and method
Expert's answer
Advantages of Rational Choice Theory
- Helpful in explaining individual and collective behaviors
- All theories attempt to give meaning to the things we observe in the world.
- Can help to explain behavior that seems irrational
Disadvantages of Rational Choice Theory
- Individuals do not always make rational decisions.
- In reality, people are often moved by external factors that are not rational, such as emotions.
- Individuals do not have perfect access to the information they would need to make the most rational decision every time
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