A decision strategy that relies on limited information and that reflects time constraints and political considerations is known as
A)bundled rationality.
B)limited rationality.
C)bounded rationality.
D)biased rationality.
E)bewildered rationality.

Question

Quizplus · Accepted Answer

Bounded rationality is the concept that in decision-making, individuals are limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision.

A Decision Strategy That Relies on Limited Information and That