The cognitive limitations that constrain one's ability to interpret, process, and act on information is known as:
A)Satisficing
B)Dialectic inquiry
C)Groupthink
D)Bounded rationality
E)Prior hypothesis bias

Question

Quizplus · Accepted Answer

Bounded rationality refers to the cognitive limitations that constrain one's ability to interpret, process, and act on information in a rational manner. It is a concept introduced by economist Herbert Simon, who argued that due to our limited cognitive abilities, we cannot always make fully rational decisions, and instead we rely on simplified models and heuristics that help us make decisions that are "satisficing" or "good enough".

The Cognitive Limitations That Constrain One's Ability to Interpret, Process