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Mancur Olson’s The Logic Of Collective Action Beginning of Paper In 1965 an intellectual bomb was dropped on the field of interest groups, in the form of . In this seminal work Olson details the dynamics of group formation. The central theory is that men and women are rational, correspondingly they maximize benefits and minimize costs; because .... Middle of Paper .... a firm grasp of the assumptions underlying it, to which groups it applies, and the broad conceptual ideas the theory entails. The most important underlying assumption of the by-product theory is the rationality of man that is, people maximize benefits while minimizing costs. This cost-benefit analysis says that people want the maximum amount of benefits or results with the least amount of cost (money, time, etc.). A rational person will not join an interest group because the benefits do not outweigh the costs of joining. Olson limits th .... 1892 words | 7 pages Subscription Length Price Join 30 days membership (recurring) $19.95 90 days membership (recurring) $39.95 180 days membership (non-recurring) $69.95