What Is Bounded Rationality

question 19

Essay

What is bounded rationality?

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Definitions:

Optimistic Expectations

The disposition or tendency to anticipate favorable outcomes and to view the future with confidence and hope.

Psychodynamic

An approach in psychology that emphasizes systematic study of psychological forces underlying human behavior, feelings, and emotions, and how they might relate to early experiences.

Social-cognitive

Refers to a psychological model focusing on how an individual's knowledge acquisition can be directly related to observing others within the context of social interactions, experiences, and outside media influences.

Assessment Strategy

A planned approach to evaluating or measuring the performance, skills, knowledge, or abilities of individuals or groups.