Rational Choice Theory

541 Words2 Pages
bulb-icon

Recommended: Rational choice theory

“And thus, the actions of life often not allowing any delay, it is a truth very certain that, when it is not in our power to determine the most true opinions we ought to follow the most probable” (René Descartes). Much of a manager’s day-to-day work involves solving problems and making decisions. To assist in decision-making they often use a management theory approach to reach their goals. The Rational Choice Theory is a decision-making theory that uses an analytical approach, suggesting that using systematically and logic approaches in decision-making, weighing the risk against the benefits, will help best in achieving a desired objective (Ogu, 2013). The Rational Choice Theory often criticized for being unethical and based on probabilities.
The Rational Choice Theory also referred to as the Choice Theory and the Rational Action Theory. Used by social scientist and economists for understanding people and behavior. McShane and Von Glinow (2013) states that “the Rational Choice Theory was established approximately 2,500 years ago when Plato and his contemporaries in ancient Greec...

Show More
Related

  • Harry Truman 's Moral Decision Theory

    1142 Words  | 3 Pages

    The rational decision theory is a method for thoroughly selecting among possible choices that are built on reasoning and facts. With a decision, making process one may employ a series of logical steps to overview relevant facts, observations, and potential outcomes before choosing a specific course of action.

    Read More

  • Rational Choice Theory: Approach To Situational Crime

    1557 Words  | 4 Pages

    Situational crime prevention is an idea criminologists use in order to reduce the chances of crime initially taking place. This theory does not aim to punish criminals after the crime has taken place like the criminal justice system does, but however the opposite, it aims to reduce the chances of the crime taking place to start with. Ron Clarke (2005) describes this theory as an approach that aims to reduce the opportunities out there for crime, involving rational choice theory. Clark focuses on three methods within this theory, directing at specific crimes, altering the environment we live in and aiming to reduce the benefits of committing crimes.

    Read More

  • Pros And Cons Of Rational Choice Theory

    684 Words  | 2 Pages

    The video starts with Shaka Senghor explaining that in 1991 he was a drug dealer and ended up killing another man. When he was 17, he got shot and was sent to the hospital but no-one helped him or told him that it would be okay and he felt very unloved and isolated and spent the rest of his time in fear until eventually he was the one behind the trigger. Once he was in prison, he ran black-market operations, was a loan shark, and sold drugs that were illegally smuggled into the prison. Because of this, he ended up in solitary confinement for seven and a half years.

    Read More

  • Jordan Belfort Case Study

    3181 Words  | 7 Pages

    Rational choice theory, developed by Ronald Clarke and Derek Cornish in 1985, is a revival of Cesare Becca...

    Read More

  • The Rational Choice and Biological Trait Theories

    1763 Words  | 4 Pages

    Criminals have been committing crimes for centuries, and they are always fooling the police detectives and federal agencies sometimes. If the justice departments would actually look at the persons thought processes and reasoning before a crime is committed, the justice departments will be able to answer the reason for the crime. The different departments could possibly figure out why the criminal did what they did in the first. For instance, they should use a couple of criminology theories to help them with certain cases that are more difficult than the rest. The theories that the justice departments should use in their systems are the rational choice and biological theories of criminology.

    Read More

  • Rational Choice Theory in Political Science

    4414 Words  | 9 Pages

    Green, Donald P. and Ian Shapiro. 1994. Pathologies of Rational Choice Theory: A Critique of Applications in Political Science. New Haven: Yale University Press

    Read More

  • Rational Choice Case Study

    1054 Words  | 3 Pages

    The second example of when this case study involves the rational choice perspective is when Danny lied to Laura about having the job at GM. Danny used his rational thinking that if he told Laura he had a good job, that she would stay with Danny. Danny was desperate at this point and attempted to make Laura and the children stay. In his mind, he had to lie in order to gain his reward. He believed that the benefit of him saying he had a job would make his marriage

    Read More

  • Theories Of Routine Activities Theory: Environmental Criminology

    121 Words  | 1 Pages

    Rational choice theory/rational action theory, is a structure used by sociologist and criminologist to enumerate crime and often formally modeling socio-economic behavior.

    Read More

  • Organizational Life Cycle

    1245 Words  | 3 Pages

    Managers should be ready to teach the importance of decision-making skills and reinforcing organizational policy. Avoiding hasty, careless decisions, which can have devastating results on the manager's unit or the entire organization. Decisions made with forethought, using the many managerial tools available will lead to better and more profitable operatio...

    Read More

  • The Tyranny Of Choice Analysis

    1015 Words  | 3 Pages

    Some people, such as psychology professor Barry Schwartz of Swarthmore College, may argue that the narrowed list of choices is like “freedom within constraints” that may make it easier for people to be satisfied with their decision, thus increases their happiness (842). In his work titled “The Tyranny of Choice”, he suggests that the availability of too many choices will cause people to doubt themselves and have troubles deciding and feeling satisfied with their final decision since they can’t possibly examine all the possibilities and they tend to have higher expectations. Nevertheless, the constraints in the case of stereotypes are paralyzing, as they don’t allow the person to live up to their full potential while simultaneously take away the choices that may lead them to happiness. The set image forces a person to behave in a certain way, eliminating anything that goes against the image. Yuan may be interested in becoming a business manager, but is discouraged by the fact that it is difficult for him to get that job in the professional world with the stereotype in place. Fearing that he may not be able to find a job and apply what he has learned in college, Yuan may end up choosing to major in computer science to become an IT technician. He may feel unhappy with his choice later in his life

    Read More

  • The Public Choice

    1595 Words  | 4 Pages

    The Public Choice For some parents, deciding on a school for their children can be a difficult decision. Many parents do not spend much time thinking about it; they place their children into the local school designated by where they live. Others attended a private school themselves and found that it was a beneficial experience and therefore want the same for their kids. But which is better: private schools or public schools? While there are many advantages and disadvantages to each (nothing is going to be absolutely perfect), we are going to focus on the benefits of an education in the public school system, or in other words, schools funded by the government that are for anyone to attend.

    Read More

  • Decision Making

    1261 Words  | 3 Pages

    An employee does an unsatisfactory job on an assigned project. Explain the attribution process that this person's manager will use to form judgments about this employee's job performance.

    Read More

  • What Is Managerial Economics?

    1284 Words  | 3 Pages

    Therefore, to achieve this objective, managers have to make choices in decision-making, which is the process of selecting a course of action from two or more alternatives (Weihrich & Koontz; 1994, 199). A sound decision making requires extensive knowledge of economic theory and the tools of economic analysis, that are directly related in the process of decision-making. Since managerial economics is concerned with such economic theories and tools of analysis, it is very relevant to the managerial decision-making process.

    Read More

  • Persuasive Essay: The Importance Of Choice

    791 Words  | 2 Pages

    Now we will consciously or unconsciously make decisions which we think are for the best for us, for the ones we care for, or for the society or organisation as a whole. In order to make wiser decisions we should know what contributes in making a good or a bad choice. We should know what all options are there available to us and mak...

    Read More

  • Decision Making Reflection Paper

    883 Words  | 2 Pages

    Making decisions is an important part of our everyday life. Decisions define actions and lead to the achievement of goals. However, these depend on the effectiveness of the decision-making process. An effective decision is free from biases, uncertainties, and is deeply dependent on information and critical thinking. Poor decisions lead to the inability to achieve set objectives and could lead to losses, if finance is a factor. Therefore, it is important to contemplate about quality and ways to achieve it in decision-making, which is the focus of this paper. The purpose is to look into the needs of decision-making, including what one should do and what one should not do.

    Read More

More about Rational Choice Theory

Open Document