In economics, sociology, and political science, a decision or situation is often called rational if it is in some sense optimal, and individuals or organizations are often called rational if they tend to act somehow optimally in pursuit of their goals. Thus one speaks, for example, of a rational allocation of resources, or of a rational corporate strategy. Sometimes, in this context, rationality is equated with behavior that is self-interested to the point of being selfish. Sometimes rationality implies having complete knowledge about all the details of a given situation. See Rational choice theory.
Debates arise in these three fields about whether or not people or organizations are "really" rational, as well as whether it make sense to model them as such in formal models. Some have argued that a kind of bounded rationality makes more sense for such models. Others think that any kind of rationality along the lines of rational choice theory is a useless concept for understanding human behavior; the term Homo economicus is largely in honor of this view.
In a number of kinds of speech, "rational" may also cannote a hodge-podge of generally positive attributes, including:
Perhaps useful contrasts (??):