The __________ decision model describes decision making with limited information and bounded rationality.
A) participative
B) classical
C) behavioral
D) delegation

Question

Quizplus · Accepted Answer

The behavioral decision model recognizes that individuals have limited information, cognitive biases, and constraints that create bounded rationality. This model allows for a more realistic view of decision making, as opposed to the classical model, which assumes complete and rational information processing. The participative and delegation models both describe different approaches to decision-making processes rather than specific types of decision-making models.

The __________ Decision Model Describes Decision Making with Limited Information