Classical decision models accept the notion of bounded rationality and suggest that people act only in terms of what they perceive about a given situation.

Name: Classical decision models accept the notion of bounded rationality and suggest that people act only in terms of what they perceive about a given situation.
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Classical decision models assume that individuals have access to all information, can process it without limitations, and make rational decisions, not bounded by perceptions.

Classical Decision Models Accept the Notion of Bounded Rationality and Suggest