When time, cost, or other limitations, such as the tendency to simplify, make finding the best alternative impossible or unreasonable, decision makers settle for an alternative they consider good enough. This sort of human compromise is referred to as ________.
A) bounded rationality
B) subjective rationality
C) the recency syndrome
D) personal perspective

Question

Quizplus · Accepted Answer

Bounded rationality refers to the limitations that prevent decision makers from finding the best alternative, leading them to settle for an alternative they consider good enough. The other choices listed do not accurately describe this concept.

When Time, Cost, or Other Limitations, Such as the Tendency