The idea that decision makers are restricted by constraints when making decisions is called:
A) Normative intuition
B) Holistic intuition
C) Bounded rationality
D) Optimal satisfaction
E) Explicit knowledge

Question

Quizplus · Accepted Answer

Bounded rationality suggests that decision makers are limited by their cognitive abilities, information, and time constraints when making decisions, which results in a rational but sub-optimal decision-making process. The other options are not related to this concept.

The Idea That Decision Makers Are Restricted by Constraints When