The bounded rationality model of decision making is particularly useful because it emphasizes the __________, thus providing a more accurate picture of the day-to-day decision- making processes used by most people.
A) rational steps in decision making
B) limitations of rationality in decision making
C) uncertainty of decision making
D) goal setting nature of decision making

Question

Quizplus · Accepted Answer

The bounded rationality model of decision making highlights the limitations of rationality in decision making, acknowledging that individuals work under constraints of information, time, and cognitive capacity, which makes it a more realistic representation of how decisions are made in everyday situations.

The Bounded Rationality Model of Decision Making Is Particularly Useful