Bounded rationality says that we are likely to:
A)select the first alternative that minimizes value.
B)evaluate all the alternatives simultaneously.
C)use accurate information to evaluate alternatives.
D)develop an exhaustive list of alternatives to consider as solutions.
E)pick the alternative that maximizes value.

Question

Quizplus · Accepted Answer

Bounded rationality suggests that individuals aim to make satisfactory decisions rather than optimal ones due to cognitive limitations and time constraints, often leading them to select the first satisfactory option rather than the one that maximizes value.

Bounded Rationality Says That We Are Likely To