Rational choice theory

thumb|right|300px|The intellect comprises the rational and the [[logical aspects of the human mind.]]

sociological theory

concept in many economic theories of humans as rational and narrowly self-interested actors who have the ability to make judgments toward their subjectively defined ends

the idea that rationality is limited by the tractability of the decision problem, the cognitive limitations of the mind, and the time available to make the decision

factor in economics

ethical theory

Satisficing is a decision-making strategy or cognitive heuristic that entails searching through the available alternatives until an acceptability threshold is met, without necessarily maximizing any specific objective. The term satisficing, a portmanteau of satisfy and suffice, was introduced by Herbert A. Simon in 1956, although the concept was first posited in his 1947 book Administrative Behavior. Simon used satisficing to explain the behavior of decision makers under circumstances in which an optimal solution cannot be determined. He maintained that many natural problems are characterized

model of public choice theory

book by Mancur Olson

theorem that a rational decision-maker has a utility function

essay by Kenneth Arrow

political theorist and political economist

theorem in game theory about whether rational agents can agree to disagree

theory in economics that addiction can be modeled as a rational form of consumption