Using Bounded- Rational Decision Making

question 38

Multiple Choice

Using bounded- rational decision making,

• A)decision makers typically identify alternatives that are obvious.
• B)the satisficing choice will be the first acceptable one encountered.
• C)decision makers will use simple and limited models.
• D)all of the above

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Definitions:

Unmemorable Examples

Instances or cases that fail to make a lasting impression or are easily forgotten.

Availability

The ease with which a specific idea can be brought to mind; in psychology, it refers to the tendency to judge the frequency or likelihood of an event by the ease with which instances or occurrences can be recalled.

Powerful Examples

Highly impactful or vivid instances or cases presented to illustrate a point, often leaving a lasting impression.

False News

Information that is fabricated and disseminated to deceive the public.