An in-depth exploration of the axioms of preference, foundational principles in the theory of rational choice, including historical context, key events, mathematical models, and practical applications.
Neoclassical Economics focuses on the analysis of economic activity based on the premises that all agents have rational preferences, consumers maximize utility, firms maximize profit, and all choices account for relevant constraints.
Public Choice theory emphasizes the motivations of bureaucrats and politicians in the analysis of economic policy, assuming they are economically rational and self-interested.
Comprehensive exploration of Rational Choice Theory in economics, detailing its principles, applications, and examples.
