Racism, Teenage Oral Sex and Voting: The Rational Economics of an Irrational World (2008)

Harford argues that rational behavior is more widespread than expected in the larger population. He uses economic principles to draw forth the rational elements of supposedly illogical behaviors to illustrate his point. About the book: https://www.amazon.com/gp/product/0812977874/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0812977874&linkCode=as2&tag=tra0c7-20&linkId=966d5871393eee0ca4e411cd3c6536b0 http://en.wikipedia.org/wiki/The_Logic_of_Life Rational Choice Theory, also known as Choice Theory or Rational Action Theory, is a framework for understanding and often formally modeling social and economic behavior. Rationality, interpreted as "wanting more rather than less of a good", is widely used as an assumption of the behavior of individuals in microeconomic models and analysis and appears in almost all economics textbook treatments of human decision-making. It is also central to some of modern political science, sociology, and philosophy. It attaches "wanting more" to instrumental rationality, which involves seeking the most cost-effective means to achieve a specific goal without reflecting on the worthiness of that goal. Gary Becker was an early proponent of applying rational actor models more widely. He won the 1992 Nobel Memorial Prize in Economic Sciences for his studies of discrimination, crime, and human capital. The "rationality" described by rational choice theory is different from the colloquial and most philosophical use of the word. Typically, "rationality" means "sane" or "in a thoughtful clear-headed manner,." Rational choice theory uses a specific and narrower definition of "rationality" simply to mean that an individual acts as if balancing costs against benefits to arrive at action that maximizes personal advantage. In rational choice theory, all decisions, crazy or sane, are postulated as mimicking such a "rational" process. Thus rationality is seen as a property of patterns of choices, rather than of individual choices: there is nothing irrational in preferring fish to meat the first time, but there is something irrational in preferring fish to meat and preferring meat to fish, regularly. Work done under the rational choice theory paradigm typically does not investigate the origins, nature, or validity of human motivations (why we want what we want). Instead, it takes the biological, psychological, sociological, moral, and ethical roots of behavior and preferences as given and theorizes with these factors fixed. Because rational choice theory lacks understanding of consumer motivation, some economists restrict its use to understanding business behavior where goals are usually very clear. As Armen Alchian points out, competition in the market encourages businesses to maximize profits (in order to survive). Because that goal is significantly less vacuous than "maximizing utility" and the like, rational choice theory is apt. Although models used in rational choice theory are diverse, all assume individuals choose