________ refers to the fact that managers are constrained in terms of time,computational power,and knowledge when making decisions.
A)Intuition
B)Unrealistic optimism
C)Bounded rationality
D)Rational ignorance
E)Cognitive bias

Question

Quizplus · Accepted Answer

Bounded rationality refers to the idea that managers are limited in their ability to make fully rational decisions due to their constraints in time, resources, and knowledge. This means that they must rely on heuristics, or rules of thumb, to make decisions that are "good enough" given the situation. This can lead to suboptimal decisions, but it is a necessary trade-off given the limitations of human cognition.

________ Refers to the Fact That Managers Are Constrained in Terms