The concept of bounded rationality holds that:
A)our perception of a rational reality is bounded by non rationality.
B)decision makers process limited and imperfect information and therefore rarely select the best choice.
C)decision makers are "bounded" by organizational limitations.
D)decision makers are bound to project images of themselves as rational thinkers.
E)our realities are bounded by our own perceptions so that everyone's reality is different.

Question

Quizplus · Accepted Answer

Bounded rationality is the idea that decision makers are limited in their ability to gather and process information, which makes it difficult for them to select the best choice. They have to make decisions based on incomplete information or with insufficient time, resources or knowledge. Therefore, they may not always choose the optimal option.

The Concept of Bounded Rationality Holds That