Bounded rationality is also the result of the decision maker guessing about:
A) uncertain future information
B) certain future consequences
C) uncertain future consequences
D) certain future information

Question

Quizplus · Accepted Answer

Bounded rationality refers to a decision maker's tendency to make decisions that are good enough or satisfactory, rather than optimal, due to limitations in time, information, and cognitive capacity. This includes guessing about uncertain future consequences, which is captured by choice C. Choices A and D both refer to future information, but only choice A captures the idea of uncertainty. Choice B refers to certain consequences, which is not consistent with bounded rationality.

Bounded Rationality Is Also the Result of the Decision Maker