One criticism of the economic model of decision making is that it assumes that consumers have sufficient accurate information and an adequate degree of involvement or motivation to make perfect decisions.

Question

Quizplus · Accepted Answer

The economic model of decision-making assumes rationality and perfect information on the part of consumers, but in reality, consumers may not have all the information needed to make optimal decisions or may not be sufficiently motivated to search for and evaluate all available options.

One Criticism of the Economic Model of Decision Making Is