When a Decision Maker Makes a Quick Decision Without Taking

question 74

Essay

When a decision maker makes a quick decision without taking the time to compare the opportunity cost of all possible options, he is using:
A.bounded rationality.
B.risk aversion.
C.loss aversion.
D.the status quo.

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Definitions:

Commit Crimes

The act of engaging in activities that violate the law.

Critical-Thinking Guidelines

Principles or strategies designed to promote reasoned analysis, evaluation, and synthesis of information to guide beliefs or actions.

Define Your Terms

A principle emphasizing the importance of clearly defining the words or concepts one is using in an argument or discussion.

Gut Reaction

An instinctive response or feeling, not based on rational thought.