The bounded rationality model assumes that managers _____ because the costs of optimizing in terms of time and effort are too great.
A)satisfice
B)rationalize
C)examine facts and details
D)reject heuristics

Question

Quizplus · Accepted Answer

The bounded rationality model posits that managers opt for "satisficing" solutions rather than optimizing ones, due to the impracticality of gathering and processing all possible information needed to make the absolute best decision. This approach acknowledges the limitations in time, information, and cognitive processing ability that constrain decision-making.

The Bounded Rationality Model Assumes That Managers _____ Because the Costs