What Are the Key Assumptions of Rational Choice Individualism?

The popularity of economics can be explained by the clear formal models of behaviour that can be constructed from the assumption that people are motivated by economic needs and the desire to profit. The idea that people tend to weigh up the costs and benefits of actions in a calculative way explains why social scientists have increasingly turned to the theory of rational choice.
There is a history of rationality in sociology. However rational action has only been traditionally seen as present alongside tradition, emotion and other value oriented action. …