Herbert Simon Suggested That People Are Not Rational Maximizers but Satisficers

question 202

Multiple Choice

Herbert Simon suggested that people are not rational maximizers but satisficers, meaning that they choose a course of action that is

• A)personally satisfying, with a greater emphasis on personal consumption than on fairness.
• B)socially satisfying, with a greater emphasis on fairness than on personal consumption.
• C)good enough.
• D)risk averse.

---

Definitions:

Medical Malpractice

A specific form of negligence that involves a medical professional's failure to provide the standard of care, resulting in harm to a patient.

Agent's Employment

The condition or period in which an individual acts on behalf of another person or entity, often in a business or professional capacity.

Authority

The authority or capacity to issue commands, make choices, and ensure compliance.

Disclosed

Disclosed involves the revelation or sharing of previously private or confidential information with parties that need or request it.