The following illustrate the operation of bounded rationality EXCEPT
A)framing.
B)cognitive biases.
C)emotions and moods.
D)political considerations.
E)maximization.

Question

Quizplus · Accepted Answer

Bounded rationality refers to the idea 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. Options A, B, C, and D all relate to factors that influence or illustrate the concept of bounded rationality by showing how decision-making can be affected by various limitations or biases. However, E (maximization) does not illustrate bounded rationality; instead, it refers to the traditional economic assumption that individuals seek to maximize their utility or benefits, which assumes a level of rationality that bounded rationality specifically critiques.

The Following Illustrate the Operation of Bounded Rationality EXCEPT