What is the definition of Rational choice theory (rct)? | Dictionary.net

RATIONAL CHOICE THEORY (RCT)

\ɹˈaʃənə͡l t͡ʃˈɔ͡ɪs θˈi͡əɹi ˌɑːsˌiːtˈiː], \ɹˈaʃənə‍l t‍ʃˈɔ‍ɪs θˈi‍əɹi ˌɑːsˌiːtˈiː], \ɹ_ˈa_ʃ_ə_n_əl tʃ_ˈɔɪ_s θ_ˈiə_ɹ_i__ ˌɑː_s_ˌiː_t_ˈiː]\

Definitions of RATIONAL CHOICE THEORY (RCT)

1910 - Black's Law Dictionary (2nd edition)

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Attempts to explain social phenomenon in terms of how self-interested individuals make choices under the influence of their preferences. All parties try to maximize their advantage, and to minimize their disadvantages.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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