Lucy needs to buy a new laptop for her business, and she buys a particular brand even though it does not support the software that is required for her business. She does this because all her family members have used computers of the same brand all their lives. This is an example of how decision makers are constrained by _____.

Question

Quizplus · Accepted Answer

This scenario illustrates bounded rationality. Bounded rationality is a concept suggesting that decision makers are limited by their values and unconscious reflexes, skills, and habits.

Lucy Needs to Buy a New Laptop for Her Business