Megatrend Revija (Jan 2015)
Models of rational decision making in contemporary economic theory
Abstract
The aim of this paper is to show that the economists can not adequately explain the rational behavior if are focused only on the scientific observations from the model of full rationality and the model instrumental rationality, and the inclusion related model makes 'larger views', which like more reprezentative reflection of the rational behavior represents a solid basis for construction the model of decision-making in contemporary economic science. Taking into account the goal of the work and its specific character, we composed adequate structure of work. In the first part of the paper, we define the model of full rationality, its important characteristics. In the second part, we analyze the model of instrumental rationality. In the analysis of model, we start from the statement, which given in economic theory, that the rational actor uses the best means to achieve their objectives. In the third part, we consider of the basic of the models of value rationality. In the fourth part, we consider key characteristics of the model of bounded rationality. In the last part, we focuse on questioning the basic assumptions of the model of full rationality and the model of instrumental rationality. We especially analyze the personal and social goals preferences of high school students and university students.
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