In bounded rationality, ________ refers to reaching a decision that is satisfactory rather than optimal to the individual.
A) satisficing
B) incrementalism
C) systemic agenda
D) policy incentive
E) legitimation

Question

Quizplus · Accepted Answer

Satisficing is the concept in bounded rationality where individuals may not aim for the optimal solution, but rather settle for a satisfactory solution based on their limited information, cognitive abilities, and time constraints.

In Bounded Rationality, ________ Refers to Reaching a Decision That