Thursday, 12 January 2012

Week 8 Reflective report - Preference and Choice

Criticisms of RAT Rational Choice Theory

A particular criticism of the Rational Choice theory is that it assumes that individuals have all information available to them prior to their choice, however when one make a decision it is seldom that this is in fact the case. In addition it assumes that individuals have the cognitive capacity and ability to compare and weigh every choice in its entirety.