Combating Corruption in Nigeria: Rational Decision Theory Approach

Combating Corruption in Nigeria: Rational Decision Theory Approach

U.C. Arinze^a*, A.H. Eneh^a, D.U. Ebem^a

^aDepartment of Computer Science, Faculty of Physical Sciences,

University of Nigeria, Nsukka-South East, Nigeria.

Email: uchechukwu.arinze.pg79296@unn.edu.ng

* Corresponding author

ABSTRACT

This research paper will use the rational decision theory to explain why people in both private and public sectors of the economy indulge in the act of corruption. The Rational Decision Theory¹ is a standard analytic approach used by economists and other social scientists to explain why individuals make the decisions that they do. The field of decision theory indebted to Blaise Pascal (1670), Daniel Bernoulli (1738) and Abraham Wald (1939) has spawned several Nobel Laureates, and a healthy body of experience has developed to support its fundamental premise ¹. The behavior of stockholders, economic cycles of boom and bust, criminal behavior, and a host of other behaviors have been explained by this theory. In this article, I apply simple rational decision theoretic rules to explain why corruption thrives in Nigeria’s private and public sectors as a model to what obtains in other parts of the world. I will also apply the theory to identify some critical areas where private / public policy efforts should be focused if corruption is to be tamed. This research paper seeks to provide a comprehensive insight into the vexed and critical issue of corruption. The topic is relevant, due to its contributing effects to retarding the growth and development of countries in both developed and developing parts of the globe. This research paper will tackle the issue at stake comprehensively by providing definitions of what corruption is from diverse authorities, research methodology employed in preparing this seminal paper, national scenario of corruption in Nigeria as a reference model, causes and effects of corruption, challenges faced by companies working together in collective action to combat the monster of corruption, long and short term implications of not outlining strategic agenda to deal with corruption in all its ramifications , and  efforts made to tackle the problem at both public and private sectors of the economy, and at national, regional and international levels will be examined.

Keywords: Rational, Decision, Theory, Analytic, Reference, Model, Approach, corruption, Stockholders, Research, Methodology.