According to the behavioural decision model, competent managers-even with cognitive limitations-can make perfectly rational decisions in highly ambiguous situations.

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The behavioral decision model suggests that due to cognitive limitations and the complexity of real-world situations, managers often rely on bounded rationality, simplifications, and heuristics, making it difficult to achieve perfectly rational decisions in highly ambiguous situations.

According to the Behavioural Decision Model, Competent Managers-Even with Cognitive