The ultimate principle of rational choice paradigm is to choose the alternative with:
A) Utilitarianism
B) Projective expected utility
C) Subjective expected utility
D) Highest returns

Question

Quizplus · Accepted Answer

The ultimate principle of rational choice paradigm is to choose the alternative with subjective expected utility. This means that individuals make choices based on their personal beliefs and preferences about the expected outcomes and the probabilities that each outcome will occur. Therefore, the best choice is the one that maximizes the individual's subjective expected utility, taking into account their own values, goals, and beliefs. Utilitarianism and projective expected utility are related concepts, but they do not capture the personal nature of decision-making. Highest returns are also important, but they need to be weighed against other factors such as risk, uncertainty, and personal preferences.

The Ultimate Principle of Rational Choice Paradigm Is to Choose