In the context of Contemporary Ethics can you please help further
define the main components and features of "Rational Choice Theory"
and explain how the theory can be applied to ethical issues.

Hello stwalsh2~

The Rational Choice Theory says that people’s actions are “rational”
in character, and that human beings estimate the benefits and
negatives of their actions before deciding what to do. “The emphasis
on the individual and his or her interests is always a starting point
for any theory of rational choice.” (“Rational Choice Theory,”
University of Regina, http://uregina.ca/~gingrich/f1000.htm ) The
reason for this? When you get right down to it, only individuals take
actions.

The Rational Choice Theory assumes that social structures are the
result of rational choices made by individuals, that everyone has time
and ability to weigh every decision, and that everyone is aware of all
possible choices.

According to Ron Azoulay on the Grinnel College website, the foremost
assumption is “that individuals are rational actors acting in their
self-interest.” (“The Rational Choice Theory,” by Ron Azoulay,
http://web.grinnell.edu/courses/pol/S00/POL256-01/wto/theory.html )
“According to Peter Sederberg,” Azoulay continues, “to be a rational
actor one has to be consistent with his attitudes and beliefs and his
actions are taken in order to advance these beliefs…The theory
declares that individuals will try to maximize their benefits while
minimizing the cost in regard to the pursuit of collective goods.”

Applying this to real life, a writer for the New York Times wrote,
“The defining feature of rational choice theory is that people always
try to maximize their interests when it comes to things like whom to
vote for or whether to volunteer politically.” (“Political Scientists
Debate Theory of “Rational Choice,”
http://phoenix.liunet.edu/~uroy/eco54/histlist/pol-sci-rational.htm )
Indeed, voting is one area where most people seem to agree that
Rational Choice applies to "real life;" citizens generally vote for
the candidate that they feel will maximize their own interests.

The problem with the theory is that it cannot satisfactorily explain
such things as “expressive behavior, collective action, weakness of
will, and the motivational roles of identity, values, and ethics.”
(Center for the Advancement of Applied Ethics, Bonnie Steinbock,
http://caae.phil.cmu.edu/caae/speakers.htm ).

 
Keywords Used:
"Rational Choice Theory"
://www.google.com/search?hl=en&lr=&ie=ISO-8859-1&q=%22Rational+Choice+Theory%22+&btnG=Google+Search

"Rational Choice Theory" ethics
://www.google.com/search?hl=en&lr=&ie=ISO-8859-1&q=%22Rational+Choice+Theory%22+ethics&btnG=Google+Search

Thank you, your response was timely and answered my question with
exceptional detail.