With reference to decision making, which of the following does satisficing involve?
A) weighing each criteria before making a decision
B) seeking solutions that are satisfactory and sufficient
C) scrutinizing and evaluating each alternative in detail
D) selecting the best option with the highest utility
E) finding optimal solutions to problems

Question

Quizplus · Accepted Answer

The limited information-processing capability of human beings makes it impossible to assimilate and understand all the information necessary to optimize. In addition, many problems likely do not have an optimal solution because they are too complicated to be broken down into the parameters of the rational decision-making model. Hence, people satisfice, that is, they seek solutions that are satisfactory and sufficient.

With Reference to Decision Making, Which of the Following Does