Decision makers operate within the confines of ________; i.e.they construct simplified models that extract the essential features from problems without capturing all their complexity.
A)bounded rationality
B)intuitive decision making
C)optimal decision making
D)synectics

Question

Quizplus · Accepted Answer

Bounded rationality refers to the idea that decision makers have limited cognitive abilities and resources, and therefore are only able to consider a limited amount of information when making decisions. This leads to the construction of simplified models that extract the essential features of a problem without capturing all its complexity. Intuitive decision making and optimal decision making are both decision making processes that can be used within the framework of bounded rationality. Synectics, on the other hand, is a creative problem solving methodology that involves bringing together different perspectives and ways of thinking to generate innovative solutions.

Decision Makers Operate Within the Confines of ________; I