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Rational Choice Theory: Toward a Psychological, Social ...

Theoretical Economics Letters, 2016, 6, 195-207 Published Online April 2016 in SciRes. How to cite this paper: Burns, T. and Roszkowska, E. (2016) Rational Choice Theory: Toward a Psychological, Social , and Material Contextualization of Human Choice Behavior. Theoretical Economics Letters, 6, 195-207. Rational Choice Theory: Toward a Psychological, Social , and Material Contextualization of Human Choice Behavior Tom Burns1,2, Ewa Roszkowska3 1 Department of Sociology, University of Uppsala, Uppsala, Sweden 2 Lisbon University Institute/CIES-ISCTE, Lisbon, Portugal 3 Faculty of Economy and Management, University of Bialystok, Bialystok, Poland Received 4 March 2016; accepted 11 April 2016; published 14 April 2016 Copyright 2016 by authors and Scientific Research Publishing Inc. This work is licensed under the Creative Commons Attribution International License (CC BY). Abstract The main purpose of this paper is to provide a brief overview of the Rational Choice approach, fol-lowed by an identification of several of the major criticisms of RCT and its conceptual and empiri-cal limitations.

sociology; and criminology, deterrence theory, and international relations. The same basic structure of rational choice underlies modem game theory, decision engineering operations research, and the various analytical ap-proaches to improving choices and information systems, in the blending of aviation fuel, the location of ware-

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