In 'bounded rationality', managers make decisions that are rational within the parameters of a ________ decision making process.
A)multiple
B)binding
C)interactive
D)simplified
E)past

Question

Quizplus · Accepted Answer

Bounded rationality suggests that managers make decisions that are rational within the bounds of a simplified decision-making process due to limitations such as time, information, and cognitive ability. Therefore, the best choice is D, "simplified." Multiple, binding, interactive, and past do not accurately describe the parameters of bounded rationality decision making.

In 'Bounded Rationality', Managers Make Decisions That Are Rational Within