Assistant Professor, Faculty of Economic and Administrative Sciences, University of Qom, Qom, Iran
10.22091/ise.2025.11677.1009
Abstract
Rational choice theory is the fundamental theory of mainstream economics which is trying to explain the economic choices made by individuals and firms. According to this theory, if the preferences of individual agents has the conditions of completeness and transitivity, then they are rational preferences and based on them it is possible to derive utility theory, maximizing which will result in demand and supply function which determine the choices of individual demanders and supplier. RCT, firstly, is based on special account of theory which insists on fully abstract nature of scientific theory as well as a priori and deductive methodology with unrealistic assumptions. Secondly it is comprised of controversial presumptions including rational economic man, methodological individualism, economic rationality, consequentialism and free market mechanism. Thirdly, insisting on abstractness, deductiveness, instrumentality and positivity has resulted in major methodological defeat which largely reduces its scientific power. These deficiencies pose the question whether it is really a scientific theory.
Saeedi, A. (2025). Criticizing and Evaluating of Rational Choice Theory from an Economics Methodology. Interdisciplinary Studies in Economics, 1(1), 31-54. doi: 10.22091/ise.2025.11677.1009
MLA
Ali Saeedi. "Criticizing and Evaluating of Rational Choice Theory from an Economics Methodology". Interdisciplinary Studies in Economics, 1, 1, 2025, 31-54. doi: 10.22091/ise.2025.11677.1009
HARVARD
Saeedi, A. (2025). 'Criticizing and Evaluating of Rational Choice Theory from an Economics Methodology', Interdisciplinary Studies in Economics, 1(1), pp. 31-54. doi: 10.22091/ise.2025.11677.1009
VANCOUVER
Saeedi, A. Criticizing and Evaluating of Rational Choice Theory from an Economics Methodology. Interdisciplinary Studies in Economics, 2025; 1(1): 31-54. doi: 10.22091/ise.2025.11677.1009
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