________ can be defined as the view that people should and typically do use logic and all available information to choose the alternative with the highest value.

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24-02-2020
Mathematics

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________ can be defined as the view that people should and typically do use logic and all available information to choose the alternative with the highest value.

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SaniShahbaz SaniShahbaz · Answer 1 · 2020-03-03T16:04:36+01:00

Answer:

Rational choice paradigm can be defined as the view that people should and typically do use logic and all available information to choose the alternative with the highest value.

Step-by-step explanation:

Rational choice paradigm can be defined as the view that people should and typically do use logic and all available information to choose the alternative with the highest value.

People normally make logical choices which are based on their defined goals. These choices reflect their behavior.

There are certain elements associated with this paradigm which are as follows:

individual preferences,
beliefs, and
constraints

Example:

Lets suppose you are the CEO of a company you founded. Whenever you make any decision, you make sure you do it based on the rational choice paradigm and certain preferences in order to maximize gain while minimizing loss.