According to March and Simon, decision makers are constrained by ________, an ability to reason that is limited by the capabilities of the human mind itself.
A) cerebral myopia
B) cognitive dissonance
C) bounded rationality
D) sub-optimization

Question

Quizplus · Accepted Answer

March and Simon proposed the concept of bounded rationality, which suggests that decision makers are constrained by their limited cognitive abilities and information processing capabilities. This concept acknowledges that human beings cannot always make perfectly rational decisions due to their cognitive limitations. Therefore, decision-makers are forced to make decisions that are satisfactory or "good enough" instead of optimal. Choices A, B, and D are not related to the concept developed by March and Simon.

According to March and Simon, Decision Makers Are Constrained by ________