According to Herbert Simon,in the context of decision making,bounded rationality is:
A) A decision maker's set of rules to achieve goal consensus through rational methods.
B) A decision maker's set of constraints due to a lack of complete information as well as limited processing ability.
C) A decision maker's intuitive ability to arrive at a decision irrespective of external constraints.
D) The ratio of a decision maker's level of tacit knowledge to his or her level of explicit knowledge.
Correct Answer:
Verified
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