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Choice That’s Rational
Choice That’s Rational

Author(s): Sidharta Chatterjee
Subject(s): Business Economy / Management, Applied Sociology, Welfare services, Socio-Economic Research
Published by: RITHA Publishing
Keywords: choice; decision making; rational; social choice rationality; welfare;

Summary/Abstract: In this paper, it is about the axiomatic basis of rational choice theory - the theory that is behind making rational choice and decisions. To make rational choices, we would require thinking rationally and understanding the reason and logic behind what makes a choice rational, and how we need to choose rationally. Decisions are made under various circumstances, i.e., under risk, and often under compulsion. In social choice theory, decisions are made by different types of decision making entities, i.e., committees, groups, individuals and collective judgments by various types of organizations, etc. This paper highlights these issues and addresses the fundamental tenets of making rational choices by examining and following the previous workings of experts on this field. As such, it introduces a novel concept and the idea of Social Choice Rationality in choosing what’s rational.

  • Issue Year: I/2022
  • Issue No: 1(1)
  • Page Range: 33-40
  • Page Count: 9
  • Language: English