The following illustrate the operation of bounded rationality except
A)framing.
B)cognitive biases.
C)emotions and moods.
D)political considerations.
E)maximization.

Question

Quizplus · Accepted Answer

Maximization is actually an aspect of bounded rationality. Bounded rationality is a theory that suggests that individuals are limited in their decision-making abilities due to constraints such as time, information, and cognitive ability. Maximization is a way for individuals to simplify their decision-making process by choosing the option that satisfies their most important criteria or objective. Therefore, all of the other options (framing, cognitive biases, emotions and moods, and political considerations) are examples of how bounded rationality operates in decision-making.

The Following Illustrate the Operation of Bounded Rationality Except