The concept of bounded rationality holds that:
A)decision makers are "bounded" by organizational limitations.
B)our realities are bounded by our own perceptions so that everyone's reality is different.
C)decision makers process limited and imperfect information and therefore rarely select the best choice.
D)decision makers are bound to project images of themselves as rational thinkers.
E)our perception of a rational reality is bounded by non rationality.

Question

Quizplus · Accepted Answer

Bounded rationality suggests that decision makers are limited by their own cognitive abilities and the information available to them, which may be incomplete or imperfect. This means that they are unlikely to always select the best possible choice or make fully rational decisions. The other options are either untrue or only partially related to the concept of bounded rationality.

The Concept of Bounded Rationality Holds That