A classical decision model differs from a behavior decision model as the classical model:
A) assumes that people act with only partial knowledge about the available action alternatives and their consequences.
B) describes decision making with limited information and alternatives.
C) recognizes cognitive limitations to our human information-processing capabilities.
D) describes how many decisions get made in the ambiguous and fast-paced problem situations.
E) assumes that the choice of preferred course of action is made by a decision maker who is fully informed about all possible alternatives.

Question

Quizplus · Accepted Answer

The classical model assumes that the decision maker is fully informed about all possible alternatives and makes the choice of preferred course of action based on that information. This is different from a behavioral decision model, which takes into account cognitive limitations and limited information in decision making.

A Classical Decision Model Differs from a Behavior Decision Model