Rational Choice Theory
/ˈræʃənəl tʃɔɪs ˈθɪəri/
Definitions
- (n.) A legal and economic theory positing that individuals make decisions by rationally weighing costs and benefits to maximize personal advantage.
Courts sometimes apply rational choice theory to predict how parties will behave under certain contractual conditions.
Forms
- rational choice theory
Related terms
See also
Commentary
In legal contexts, rational choice theory underpins many analyses of statutory interpretation, legislative behavior, and judicial decision-making, emphasizing actor intentionality and strategic interaction.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.