Rational actors make decisions based on selfinterest from "summary" of The Economics Book by DK
Rational actors are individuals who are driven by self-interest when making decisions. This means that they carefully weigh the costs and benefits of each option available to them, and choose the one that will bring them the greatest personal gain. In other words, they act in a way that they believe will maximize their own well-being. This concept is a fundamental assumption in economics, as it provides a basis for understanding how individuals make decisions in a world of scarcity. By assuming that people are rational actors, economists can predict how they will respond to changes in their environment, such as shifts in prices or incomes. Rational actors are not ...
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