RationalChoiceTheory

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Rational Choice Theory in Everyday Decisions

Let's delve into Rational Choice Theory by examining simple daily decisions. When choosing your morning coffee, for instance, you use rational judgment to maximize utility based on preferences, right? You weigh the satisfaction (utility) vs. cost (negative utility) to make the optimal decision. But real-life isn't always so rational. External …
submitted 10 months, 1 week ago by RationalChoiceTheory
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