Rational choice theory (RCT) theorists believe that most human decisions are based on maximizing a person's own benefits, while minimizing that which can hurt the individual, according to Business ...

Clay Halton was a Business Editor at Investopedia and has been working in the finance publishing field for more than five years. He also writes and edits personal finance content, with a focus on ...

Choice theory provides a fundamental framework for understanding how individuals and groups make decisions, integrating elements of economics, psychology, and sociology. This interdisciplinary field ...

Social choice theory provides a foundational framework for analysing collective decision‐making, where diverse individual preferences are aggregated into a single, socially endorsed outcome. This ...

This is a preview. Log in through your library . Abstract We develop a formal theory of legitimate collective choice. In our theory a policy choice is legitimate if the process through which the final ...

Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance professor who has been working in the accounting and finance industries for more than 20 years. Her expertise covers a ...