The rational choice theory argues that individuals make decisions based on rational calculations of their own self-interest. This theory was developed by the sociologist George Akerlof in his research on economics and decision-making (Akerlof, 1970).
Reference:
Akerlof, G. A. (1970). The market for “lemons”: Quality uncertainty and the market mechanism. Quarterly Journal of Economics, 84(3), 488-500.
rational choice theory
Provide a reference for the information above havard referencing style and who came up with it
1 answer
1 answer