Which of the following causes decision makers to satisfice?
A)Confirmation bias
B)Availability heuristics
C)Sampling bias
D)Optimizing
E)Bounded rationality

Question

Quizplus · Accepted Answer

Bounded rationality represents the notion that decision makers are restricted by a variety of constraints when making decisions. The limitations of bounded rationality result in the tendency to acquire manageable rather than optimal amounts of information. In turn, this practice makes it difficult for managers to identify all possible alternative solutions. In the long run, the constraints of bounded rationality cause decision makers to fail to evaluate all potential alternatives, thereby causing them to satisfice.

Which of the Following Causes Decision Makers to Satisfice