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The Formulation of Rational Choice

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The Formulation of Rational Choice
Author(s)Sen, Amartya
AbstractTraditional economic theory describes a rational person is one who acts accordingly to his or her own objectives, maximizing the expected value o the payoff. There are inadequacies in the assertion. ‘Menu-dependent’ behavior violates some commonly used properties of internal correspondence of choice. But more social behavior does not necessarily meet the requirements of social justice, as there are often unfortunate results from ‘selfless’ behavior.
IssueNo2
Pages385-390
ArticleAccess to Article
SourceAmerican Economic Review
VolumeNo84
PubDateMarch 1994
ISBN_ISSN0002-8282
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