Which of the following models accepts the notion of bounded rationality and assumes that decision makers act only in terms of what they perceive about a given situation?
A) The behavioral decision model
B) The perceptive decision model
C) The cognitive decision model
D) The classical decision model
E) The visual decision model

Question

Quizplus · Accepted Answer

The behavioral decision model accepts the notion of bounded rationality, acknowledging that decision-makers operate under constraints that limit their ability to process and act on information in an optimally rational way. It emphasizes how individuals actually make decisions in real-world situations, taking into account the limitations of human cognition and the influence of social and emotional factors.

Which of the Following Models Accepts the Notion of Bounded