What Does It Mean to Say That We Are "Fishing

question 26

Essay

What does it mean to say that we are "fishing down the food chain"?

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Definitions:

Bounded Rationality

A concept suggesting that decision-makers are limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make decisions.

Maximization

The process of seeking the highest possible outcome or result from a set of choices or actions.

Base Rates

Basic pay rates established for roles or tasks before any additional benefits or allowances are added.

Not-invented-here Bias

A mindset or culture where innovations or solutions developed outside a particular group are undervalued or rejected, regardless of merit.