The vice president of human resources believes that decision makers cannot be truly rational in their decisions. He tells the group that he sees many situations with managers who don't have enough time to process all the relevant information and who regularly face very complex problems. His opinion demonstrates _____.

Question

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Bounded rationality is a less-than-perfect form of rationality in which decision makers cannot be perfectly rational because decisions are complex, and complete information is unavailable or cannot be fully processed.

The Vice President of Human Resources Believes That Decision Makers