Herbert Simon argued that people engage in bounded rationality because:
A) People evaluate and then process information
B) They process limited and imperfect information and rarely select the best choice
C) They process correct and timely information
D) None of the options listed here is correct

Question

Quizplus · Accepted Answer

Herbert Simon argued that people engage in bounded rationality because they process limited and imperfect information and rarely select the best choice. This means that humans are not always able to fully process or understand all available information when making decisions, and therefore make choices that may not fully optimize their outcomes.

Herbert Simon Argued That People Engage in Bounded Rationality Because