Which of the following describes the idea that perfectly rational decisions are not always feasible due to constraints found in information processing?
A) limited capacity
B) limited rationality
C) bounded rationality
D) bounded capacity

Question

Quizplus · Accepted Answer

Bounded rationality is the idea that perfectly rational decisions are not always feasible due to constraints found in information processing such as limited time, cognitive capacity, and incomplete information. It recognizes that decision-makers are not always able to make optimal decisions due to cognitive limitations and the complexity of the decision-making environment.

Which of the Following Describes the Idea That Perfectly Rational