The Application of the Model of Instrumental Rationality and the Model of Value Rationality in the Analysis of Personal and Social Goal Preferences

Bojan Krstic and Milos Krstic

Ekonomika, Journal for Economic Theory and Practice and Social Issues, 2016, vol. 62, issue 01

Abstract: The main aim of the research is to determine whether the model of instrumental rationality or model of value rationality better explains the respondents’ behaviour. In the research, we used the following statistical techniques: descriptive analysis, factor analysis and the one-factor analysis of variance with planned comparisons. The results of the descriptive analysis of the sample of students of the Faculty of Economics show that young people gravitate towards egoistic, selfish ends (“material standard”, “friends”, “social power”, “independence”, “enjoyment”, “popularity”, etc.). When it comes to personal and social goals of the respondents in the sample of the high school students from the Vocational School of Economics, the results of the descriptive analysis reveal the pupils` willingness to give up their personal utility for the common good. The factor analysis of personal and social goals of high school students and university students indicates that the model of instrumental rationality better explains the respondents’ behaviour than the model of value rationality. In accordance with the results, participants never honestly act for the welfare of others. Finally, the main results of the one-factor analysis of variance with planned comparisons confirmed the second hypothesis of the research according to the subjects that evaluated socioeconomic conditions of their families as “good” and “moderate” have higher levels of instrumental rationality.

Keywords: Community/Rural/Urban; Development (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ags:sereko:288694

DOI: 10.22004/ag.econ.288694

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