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276
Decision makers construct simplified models that extract the essential features from problems
without capturing all their complexity. That is, they operate within the confines of .
A) optimal decision making
B) intuitive decision making
C) bounded rationality
D) rationality
E) common sense
c)
p-181-182
Bounded rationality: A process of making decisions by constrructing simplified models that extract the essential features from problems without capturing all their complexity.
p-181-182
Bounded rationality: A process of making decisions by constrructing simplified models that extract the essential features from problems without capturing all their complexity.
Flashcard info:
Author: Elisa
Main topic: Business Economics
School / Univ.: Hanze Hogeschool
City: Groningen
Published: 14.02.2010