One of the assumptions of the classical model of decision making is that ________.
A) the decision to be made is a programmed decision
B) personal preferences have no effect on the decision-making process
C) prescriptive decision making is superior to descriptive decision making
D) decision makers have all the information needed to make optimal decisions

Question

Quizplus · Accepted Answer

The classical model assumes that decision makers have all the information needed to make an optimal decision. However, in reality, decision makers often have incomplete or imperfect information.

One of the Assumptions of the Classical Model of Decision