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The Rational Choice Perspective

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  • NEIL J. SMELSER

    (University of California, Berkeley)

Abstract

This essay attempts a theoretical assessment of the rational choice perspective, a central tenet in economics that has received wide application in recent decades in the other behavioral and social sciences. The analysis proceeds by several steps: (a) a specification of the historical contexts (economic, political, and ideological) of the rise and consolidation of the perspective in economics, (b) a description of the theoretical essentials of the perspective, (c) an outline of the major theoretical objections and criticisms of the perspective, (d) an identification of the major responses to the criticisms on the part of economists and others, including orthodox defense, aggrandizement, qualification, and theoretical extension and refinement, and (e) a concluding assessment of these several trends, which advances the proposition that rational choice theory—like psychoanalysis, Marxism, and funtional analysis—has experienced a kind of theoretical degeneration.

Suggested Citation

  • Neil J. Smelser, 1992. "The Rational Choice Perspective," Rationality and Society, , vol. 4(4), pages 381-410, October.
    • Handle: RePEc:sae:ratsoc:v:4:y:1992:i:4:p:381-410
    DOI: 10.1177/1043463192004004003
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    References listed on IDEAS

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    Cited by:

    1. James B. Rule, 1992. "Rational Choice and the Limits of Theoretical Generality," Rationality and Society, , vol. 4(4), pages 451-469, October.
    2. Clemens Kroneberg & Meir Yaish & Volker Stocké, 2010. "Norms and Rationality in Electoral Participation and in the Rescue of Jews in WWII," Rationality and Society, , vol. 22(1), pages 3-36, February.
    3. Mary K. Farmer, 1992. "On the Need to Make a Better Job of Justifying Rational Choice Theory," Rationality and Society, , vol. 4(4), pages 411-420, October.
    4. Santos, Susana & Gonçalves, Helena Martins, 2021. "The consumer decision journey: A literature review of the foundational models and theories and a future perspective," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    5. Kroneberg, Clemens & Stocké, Volker & Yaish, Meir, 2006. "Norms or rationality? : The rescue of jews, electoral participation, and educational decisions," Papers 06-09, Sonderforschungsbreich 504.
    6. Eric H. Rambo, 1999. "Symbolic Interests And Meaningful Purposes," Rationality and Society, , vol. 11(3), pages 317-342, August.
    7. Neil J. Smelser, 1993. "Response to Discussants," Rationality and Society, , vol. 5(1), pages 141-145, January.
    8. David Dequech, 2003. "Uncertainty and Economic Sociology:," American Journal of Economics and Sociology, Wiley Blackwell, vol. 62(3), pages 509-532, July.
    9. Kroneberg, Clemens, 2006. "The definition of the situation and variable rationality : the model of frame selection as a general theory of action," Papers 06-05, Sonderforschungsbreich 504.
    10. Gudmund Hernes, 1992. "We Are Smarter than We Think," Rationality and Society, , vol. 4(4), pages 421-436, October.
    11. Thomas J. Fararo, 1992. "Rationality and Formal Theory," Rationality and Society, , vol. 4(4), pages 437-450, October.

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