Rational choice theory has gained considerable influence in politics and sociology over the past thirty years. The use of rational choice methods has proliferated in all areas of social inquiry. From the early days as formal proofs and unrealistic assumptions, rational choice is increasingly being used to model authentic situations and institutions. This collection of essays from leading British writers in the rational choice paradigm concentrates upon the two key aspects of rational choice: the role of preferences and institutions. The essays encompass both theoretical inquiries and empirical analyses. This volume is a vital addition to growing literature on the problems and the application of rational choice in social inquiry.