______ is the idea that decision makers are restricted by constraints when making decisions.
A) Normative intuition
B) Holistic intuition
C) Bounded rationality
D) Optimal satisfaction
E) Explicit knowledge

Question

Quizplus · Accepted Answer

Bounded rationality suggests that decision makers are limited in their ability to process information and make decisions due to various constraints such as time, cognitive ability, and access to information. This means that decision makers may not always make "perfectly rational" decisions, but instead make choices that are satisfactory and good enough under the given constraints.

______ Is the Idea That Decision Makers Are Restricted by Constraints