Under the bounded rationality model of problem solving and decision making:
A)managers follow statistical rules for decision making
B)managers critically view the world as complex and multivariate
C)managers generate a wide array of decision options and select the one that meets all decision criteria
D)managers are comfortable making decisions without identifying all options

Question

Quizplus · Accepted Answer

Under bounded rationality, managers accept that they cannot identify all options and therefore make decisions based on a limited set of options. This is due to the limited resources such as time and information available to them.

Under the Bounded Rationality Model of Problem Solving and Decision