In the real world, what do people typically do when making a decision about a problem?
A) follow the rational decision-making model
B) seek the optimal decision
C) obtain complete information about all possible alternatives before making a decision
D) evaluate all the possible options in an unbiased and objective manner
E) find a satisfactory and sufficient solution

Question

Quizplus · Accepted Answer

In the real world, people typically aim to find a satisfactory and sufficient solution rather than seeking the optimal decision or following the rigid steps of the rational decision-making model. They often have limited time, resources, and information, which may prevent them from considering all possible options or evaluating them in a unbiased and objective manner. Therefore, they may rely on heuristics, intuition, past experiences, and social norms to make a decision that meets their needs and expectations. This approach is known as bounded rationality or satisficing, which acknowledges the cognitive limitations of human beings while still trying to achieve a reasonable level of goal attainment.

In the Real World, What Do People Typically Do When