All of the following statements describe assumptions of an early model of decision making,the "economic man and woman," except one.Identify the assumption not associated with this model.
A)Decision-makers are completely informed of all possible options and all possible outcomes of their decision options.
B)Decision-makers are infinitely sensitive to subtle differences among decision options.
C)Decision-makers are aware that making errors in judgment is inherent in decision-making.
D)Decision-makers are fully rational in regard to their choice of options.

Question

Quizplus · Accepted Answer

The assumption that decision-makers are aware that making errors in judgment is inherent in decision-making is not part of the "economic man and woman" model. This model assumes that decision-makers are fully rational, completely informed, and infinitely sensitive to differences among decision options, but it does not incorporate the idea that people recognize the inevitability of making errors in judgment.

All of the Following Statements Describe Assumptions of an Early