Roll's Critique

Roll's Critique argues that relying solely on individual rationality to explain economic behavior can overlook important social and institutional factors. It emphasizes that people's decisions are often influenced by social norms, cultural contexts, and relationships, not just personal calculations of costs and benefits. This critique highlights the importance of considering the broader social environment when analyzing economic actions, rather than assuming individuals always act purely out of self-interest. In essence, it calls for a more nuanced view that integrates both individual incentives and societal influences to better understand economic behavior.