Which of the following is an assumption of the bounded rationality model?
A)Managers are aware of all the possible alternatives.
B)Managers select the first alternative that is satisfactory.
C)Managers can calculate the probability of success for each alternative.
D)Managers have a consistent system of preferences, which is used to choose the best alternative.

Question

Quizplus · Accepted Answer

The bounded rationality model assumes that managers select the first alternative that meets a satisfactory level of acceptability rather than optimizing from all possible alternatives, due to limitations in information, time, and cognitive processing ability.

Which of the Following Is an Assumption of the Bounded