The ____ model of decision making helps explain why different individuals may make different decisions when they have exactly the same information.
A) rational
B) bounded rationality
C) both of these
D) neither of these

Question

Quizplus · Accepted Answer

The bounded rationality model of decision making recognizes that individuals have limitations in their ability to process and analyze information, leading to incomplete and imperfect decision making. As a result, different individuals may prioritize and weigh information differently, leading them to make different decisions even with the same information available. The rational model of decision making assumes that individuals have unlimited cognitive abilities and always make decisions that maximize their utility. Therefore, it does not explain why different individuals may make different decisions.

The ____ Model of Decision Making Helps Explain Why Different