____ refers to the decision rules that are a part of the bounded rationality model.
A) Heuristics
B) Risk propensity
C) Problem framing
D) Emotional block

Question

Quizplus · Accepted Answer

Heuristics are the decision rules used to simplify complex problems that cannot be solved through complete rational analysis. These rules are used to speed up the decision-making process by reducing the number of alternatives to be considered. Heuristics are a part of the bounded rationality model, which recognizes that decision-making is influenced by limitations in time, information, and cognitive ability. Risk propensity, problem framing, and emotional block are other factors that can influence decision-making but are not directly related to decision rules.

____ Refers to the Decision Rules That Are a Part