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To evaluate this rational economic actor approach in relation to urban economies, therefore, the following hypothesis can be tested:
Rational economic actor hypothesis (H1): The greater the perceived penalties and risk of detection, the lower is the likelihood of participation in the urban informal economy, ceteris paribus.
The contour of this book may be unfamiliar to some sociologists; Unified Growth Theory is a grand theory and aggregate empirical data and models of rational economic actors are used to support the central propositions.
In Gibson's Zambia, all parties involved in wildlife utilization and policy formulation operate as rational economic actors, trying to optimize the benefits for themselves.
In the author's view, large landlords, small sheep farmers, and even laborers behaved as rational economic actors.