Which of the following is a true statement about bounded rationality?
A) It is the act of choosing an alternative that meets the minimum standards of acceptability.
B) It is the main cause of the recency syndrome.
C) It occurs only when we rely on intuition instead of data.
D) It is our tendency to find the simplest possible solution to a problem.

Question

Quizplus · Accepted Answer

Choosing an alternative that meets minimum standards of acceptability is a form of bounded rationality. The decision maker considers alternatives only until one is found that meets his or her minimum criteria for acceptability.

Which of the Following Is a True Statement About Bounded