What is the phenomenon of concern in this theory? What are the assumptions underpinning this theory?

Discussions on Week 3, Nursing Theories

Rational Choice Theory concerns itself with human decision-making that involves cost/benefit evaluation. The theory is based on the assumption that people are rational decision makers who base their decisions more on perceived outcomes than desires or emotions, and they strive to maximize benefits while minimising costs. This theory assumes all decisions can be divided into smaller ones and evaluated in terms of their potential costs and benefits.

The Rational Choice Theory relies on several key assumptions. The first assumption is that humans are rational decision-makers who aim to maximize their personal interests when they make decisions. The second assumption is that the people are fully informed about every possible outcome before making a decision. They also have full knowledge of all costs and rewards associated with any potential choices. Thirdly, the model assumes that individuals’ preferences will remain unchanged over time. Finally, it presumes an underlying stability in the environment so that people’s past experiences can be used to predict future behavior more accurately.

The Rational Choice Theory summarizes the rational principles that explain behavior. People make choices based on their perfect knowledge and act accordingly. Their preferences do not change. They assume stable environments in which to operate over time.