In the bounded rationality model, the tendency to select an acceptable, rather than an optimal, goal or decision is called
A) satisficing.
B) compromising.
C) risk aversion.
D) settling.

Question

Quizplus · Accepted Answer

The term satisficing refers to the tendency to select an acceptable, rather than an optimal, goal or decision. This is a key concept in the bounded rationality model. Option B (compromising) is not directly related to this concept, and options C (risk aversion) and D (settling) are not correct terms for this particular concept.

In the Bounded Rationality Model, the Tendency to Select an Acceptable