Rational choice theory | elements, assumptions, challenges, and applications | leadership theory

[Game of Theories: #8] Rational choice theory. It is the theoretical root of many currently popular decision-making approaches, such as data-driven decision making, data-informed decision making, evidence-based decision making, and cost-benefit analysis. I introduced the six elements of the rational choice theory, the four key assumptions, and how those assumptions have been challenged. I also used an example to explain how the rational choice theory was used to develop hypotheses in research to study the tie-breaking power in a committee.

00:00 Introduction
00:58 What is rational choice theory?
01:38 6 elements
08:59 4 assumptions
12:21 Where power resides in committees

#leadershipdevelopment #theory #theoreticalframework

[NeneMokonchu]

thank you so much! really explicated it well just in time for my midterm <3