In the bounded rationality model, individuals stop searching for alternatives as soon as they __________.
A) get tired of searching
B) find the best one
C) find an acceptable one
D) have explored the maximum alternatives

Question

Quizplus · Accepted Answer

In the bounded rationality model, individuals stop searching for alternatives when they find an option that meets their minimum criteria for acceptability, rather than continuing to search for the best possible option. This approach acknowledges the limitations of human decision-making processes, including time constraints and limited information.

In the Bounded Rationality Model, Individuals Stop Searching for Alternatives