Examlex
Use a calculator to find the function value. Give your answer rounded to seven decimal places, if necessary.
-sec 70°28´
Optimising Decisions
Making choices that lead to the best possible outcome, considering all available information and constraints.
Satisficing Decisions
Choose the first satisfactory alternative that comes to your attention.
Behavioural Decision Model
An approach to understanding decision-making, focusing on how individuals interpret and respond to information based on psychological and behavioural factors.
Bounded Rationality
A concept that decision-makers are limited in their decision-making capabilities by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make decisions.
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