Rational emotional theory, also known as
rational action theory, is a framework for understanding and often
formally modeling social and economic behavior.
[1]
Rationality, interpreted as "wanting more rather than less of a good",
is widely used as an assumption of the behavior of individuals in
microeconomic
models and analysis and appears in almost all economics textbook
treatments of human decision-making. It is also central to some of
modern
political science,
[2] sociology,
[3] and
philosophy. It attaches "wanting more" to
instrumental rationality,
which involves seeking the most cost-effective means to achieve a
specific goal without reflecting on the worthiness of that goal.
Gary Becker was an early proponent of applying rational actor models more widely.
[4] He won the 1992
Nobel Memorial Prize in Economic Sciences for his studies of discrimination, crime, and
human capital. The theory was much emphasized by Albert Ellis who stated that Action does not cause the behavioral change rather than the lnterpretation of that action.
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