Rational actors
Description
The rational actor model is based on an individualist and consequentialist conception of optimal decision-making. The model posits that a rational actor will choose the course of action that maximizes expected individual net benefits. The formal framework of the rational actor model was developed in economics (Luce and Raiffa 1989; Ramsey 2016; Savage 1972; Von Neumann and Morgenstern 2007). Also known as homo economicus, the rational actor model became influential across the social and natural sciences – including evolutionary models of human and other animal behavior through game theoretic applications (Smith 1982).
Impact and interest:
Citation counts are sourced monthly from Scopus and Web of Science® citation databases.
These databases contain citations from different subsets of available publications and different time periods and thus the citation count from each is usually different. Some works are not in either database and no count is displayed. Scopus includes citations from articles published in 1996 onwards, and Web of Science® generally from 1980 onwards.
Citations counts from the Google Scholar™ indexing service can be viewed at the linked Google Scholar™ search.
| ID Code: | 203434 | ||
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| Item Type: | Chapter in Book, Report or Conference volume (Entry for encyclopedia/dictionary) | ||
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| Measurements or Duration: | 2 pages | ||
| DOI: | 10.1007/978-3-319-16999-6_2155-1 | ||
| ISBN: | 9783319169996 | ||
| Pure ID: | 62010986 | ||
| Divisions: | Current > Research Centres > Centre for Behavioural Economics, Society & Technology Past > QUT Faculties & Divisions > QUT Business School Current > QUT Faculties and Divisions > Faculty of Business & Law Current > Schools > School of Economics & Finance |
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| Copyright Owner: | Springer Nature Switzerland AG 2020 | ||
| Copyright Statement: | This work is covered by copyright. Unless the document is being made available under a Creative Commons Licence, you must assume that re-use is limited to personal use and that permission from the copyright owner must be obtained for all other uses. If the document is available under a Creative Commons License (or other specified license) then refer to the Licence for details of permitted re-use. It is a condition of access that users recognise and abide by the legal requirements associated with these rights. If you believe that this work infringes copyright please provide details by email to qut.copyright@qut.edu.au | ||
| Deposited On: | 25 Aug 2020 22:42 | ||
| Last Modified: | 29 Feb 2024 14:59 |
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