Suppose that you need a math elective to take in order to graduate. There are five different courses you could take. You call one friend and, on the basis of her terrific experience in one course, you choose that one. What would Herbert Simon call what you have just done?
A)Bounded rationality
B)Unbounded rationality
C)Rational decision- making
D)Escalation of commitment

Question

Quizplus · Accepted Answer

Herbert Simon would call this "bounded rationality" because you made a decision with limited information and within the constraints of limited time and cognitive resources, rather than exploring all possible options exhaustively.

Suppose That You Need a Math Elective to Take in Order