Jalen always strives to make optimum choices from the known alternatives but accepts that he will never have access to all available information and therefore must strive for the most satisfactory decisions. This realization is consistent with the ________ of decision making.
A)administrative model
B)representativeness bias
C)programmed form
D)classical model
E)illusion of control

Question

Quizplus · Accepted Answer

The administrative model of decision making acknowledges that decision-makers often work with limited information and bounded rationality, leading them to make satisfactory rather than optimal decisions.

Jalen Always Strives to Make Optimum Choices from the Known