Which model of decision making is associated with satisficing, bounded rationality, and uncertainty?
A) Classical
B) Administrative
C) Quantitative
D) Rational
E) Political

Question

Quizplus · Accepted Answer

The administrative model of decision making acknowledges that decision makers have limited information, cognitive abilities, and processing time, which results in satisficing (settling for a satisfactory but not optimal solution) and bounded rationality (making decisions based on limited information and cognitive abilities). Additionally, uncertainty is a common feature of decision making under the administrative model.

Which Model of Decision Making Is Associated with Satisficing, Bounded