The notion that decision makers simply do not have the ability or resources to process all available information and alternatives to make an optimal decision refers to:
A)heuristics
B)communities of practice
C)bounded rationality
D)projection bias
E)performance-prove orientation

Question

Quizplus · Accepted Answer

Bounded rationality refers to the concept that decision makers are limited in their ability to process all available information and alternatives, leading them to make satisficing rather than optimal decisions.

The Notion That Decision Makers Simply Do Not Have the Ability