According to Simon's theory of bounded rationality, people tend to use
A)simple strategies in decision making that focus on only a few facets of available options and often result in irrational decisions that are less than optimal.
B)complex strategies in decision making that focus on multiple facets of available options and often result in irrational decisions that are less than optimal.
C)simple strategies in decision making that focus on multiple facets of available options and often result in rational decisions that are optimal.
D)complex strategies in decision making that do not focus clearly on enough facets of available options and often result in irrational decisions that are less than optimal.

Question

Quizplus · Accepted Answer

Simon's theory of bounded rationality suggests that individuals use simple strategies for decision-making that focus on a limited number of aspects of the available options, leading to decisions that are satisficing rather than optimal, due to cognitive limitations and time constraints.

According to Simon's Theory of Bounded Rationality, People Tend to Use