Nicole and other managers in her firm have some ties to Europe and are investigating opportunities for global expansion.They are struggling to understand the risks, given the complexity of world markets today and recent global instabilities.The difficulty Nicole's team is facing prevents perfectly rational decision making, and is an example of

Question

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The bounded rationality concept suggests that the ability of decision makers to be rational is limited by numerous constraints, such as complexity.The problems that need solving are often exceedingly complex, beyond understanding.

Nicole and Other Managers in Her Firm Have Some Ties