rational behavior

What Is The Difference Between Rational Behavior And Irrational Behavior?

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What Is The Difference Between Rational Behavior And Irrational Behavior? Rational behavior occurs when we are pursuing goals in accordance with our set preferences and priorities. When a person does not behave in accordance with their preferences and priorities, their behavior is irrational. What is the difference between rational and irrational behaviour? Rational thinking is

What Economists Mean By Rational Choice?

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What Economists Mean By Rational Choice? What economists mean by rational choice? Rational choice theory can apply to a variety of areas, including economics, psychology and philosophy. This theory states that individuals use their self-interests to make choices that will provide them with the greatest benefit. People weigh their options and make the choice they