The __________ model accepts the notion of bounded rationality and suggests that people act only in terms of what they perceive about a given situation.
A)behavioral decision theory
B)rational decision theory
C)rigid decision theory
D)scientific decision theory
E)potential investment decision theory

Question

Quizplus · Accepted Answer

The behavioral decision theory model acknowledges that people have a limited ability to process and analyze information, and therefore may not always make perfectly rational decisions. This model suggests that people act based on what they perceive about a given situation, rather than following a strictly rational decision-making process.

The __________ Model Accepts the Notion of Bounded Rationality and Suggests