Which of the following statements is true regarding the rational decision-making model?
A) It takes into consideration the limited information-processing capability of individuals.
B) It involves constructing simplified models without capturing all their complexity.
C) It deals with satisficing decisions by seeking solutions that are satisfactory and sufficient.
D) It assumes that an individual is able to identify all relevant options in an unbiased manner.
E) It is an unconscious decision-making process created from distilled experience.

Question

Quizplus · Accepted Answer

The rational decision-making model relies on a number of assumptions, including that the decision maker has complete information, is able to identify all the relevant options in an unbiased manner, and chooses the option with the highest utility.

Which of the Following Statements Is True Regarding the Rational