Behavioral scientists are cautious about applying classical decision theory to many decision situations because they recognize that human beings have __________ that restrict their information-processing capabilities.
A)sociological limitations
B)cognitive limitations
C)subjective limitations
D)emotional limitations
E)psychological limitations

Question

Quizplus · Accepted Answer

Classical decision theory assumes that individuals have unlimited cognitive capacity, which is not the case in reality. Behavioral scientists recognize that individuals have cognitive limitations, such as limited attention span and working memory, that affect their decision-making processes. Therefore, classical decision theory cannot be applied to many decision situations since it does not take into account these cognitive limitations.

Behavioral Scientists Are Cautious About Applying Classical Decision Theory to Many