The rational choice
theory is designed to explain actions performed by individuals
as part of a group working toward a common, collective good.
The main assumption is that individuals are rational actors acting
in their self-interest. According to Peter Sederberg, to be a
rational actor one has to be consistent with his attitudes and
beliefs and his actions are taken in order to advance these beliefs.
An actor is also assumed to be entirely self-regarding, i.e.
egoistic. Once these assumptions are made about individuals,
one can begin to apply the theory to actions taken to achieve
a common good. The theory declares that individuals will try
to maximize their benefits while minimizing the cost in regard
to the pursuit of collective goods. Under the assumption that
individuals are rational, an individual is also assumed to possess
ALL the information pertaining to make a rational decision about
his cost-benefit outcome regarding a collective good. Such conditions
allow the theory to predict that individuals will make the decision
to "free ride". Free riding simply means that if an
individual is rational and the collective good is something that,
once obtained, will be usable by all, then the individual will
decide not to participate and wait until the good is achieved
to enjoy it.
Although such a rational would lead us to conclude that no one will participate in any collective action, people actually do participate. What could cause this? Sederberg offers a few explanations, or solutions, for participation. The main solution is that a change in the cost-benefit formula of individuals (decrease the cost while increase benefits) will lead to an increase in the actual difference each actor perceives that they can make in achieving the good. Once people decide to work for a collective good, cooperation can be achieved leading to a bandwagon effect. This effect is the attitude that once people begin to work for the collective good, others (seeing the positive outcome from their actions) will follow. Another set of solutions regards the individuals working towards this collective good. If individuals become entrepreneurs, they will be able to lead others to the common goal. Acquiring resources and manipulating the information will also contribute to an increase in the number of participants.
The idea that rational individuals will always
weigh their cost and benefits before taking action pertaining
to a collective good that will eventually be enjoyed by all,
regardless of participation, is an important one because it allows
for the study of why people either do or do not participate in
certain 
activities. Working
under the assumptions that all individuals are rational and that
they know all the information they need to know to make such
decisions begs the question of what leads people to act. On one
hand, rational individuals will not act because they know that
it is better to free ride. On the other hand, people do participate.
The assumption about rationality made by the theory limits observers
to distinguish between those that are inclined to participate
simply because they believe in social justice and those that
participate because they weigh their costs and benefits. These
distinct groups, one following actions because of ideology and
the other because of rationality, cannot have different theories
applied to each because one does not know which individuals belongs
to which group. The problem with the theory is that it makes
it impossible to conclude that all individuals are rational because
it assumes that they are. Such an assumption makes the theory
questionable for it's application into the real world.