The satisficing decision maker is best characterised as:
A)a decision confirmation process
B)considering all alternatives
C)following bounded rationality
D)a search for consistency

Question

Quizplus · Accepted Answer

The satisficing decision maker is a person who makes decisions by following bounded rationality, which means that they consider a limited number of alternatives and choose the one that is deemed satisfactory or "good enough" rather than the best possible option. This approach is based on the idea that decision-making involves limitations in information, time, and cognitive abilities, and that trying to consider all alternatives is often impractical or impossible. Therefore, the best choice is C, following bounded rationality.

The Satisficing Decision Maker Is Best Characterised As