The theory of bounded rationality is consistent with which of the following?
A) None of our decisions are rational.
B) Our rationality depends on rules of thumb such as "you get what you pay for."
C) It is irrational to follow principles such as "follow the leader."
D) It always pays to be irrational.

Question

Quizplus · Accepted Answer

Bounded rationality suggests that individuals make decisions based on limited information and cognitive limitations, often using heuristics or rules of thumb to simplify complex decision-making processes.

The Theory of Bounded Rationality Is Consistent with Which of the Following