Which of the Following Is an Example of Bounded Rationality

question 43

Essay

Which of the following is an example of bounded rationality?
A.Ann proofreads her term paper six times.
B.Mary feels that she has studied enough to make an A+ on her economics exam but studies another 2 hours just to be sure.
C.Tim studies only an hour on the morning of his economics exam because he is satisfied just to make a passing grade.
D.Terry does his economics homework twice to be sure that he has a thorough understanding of the topic.

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Definitions:

Punishment

A consequence applied with the intention of reducing or eliminating an unwanted behavior by causing discomfort or taking away a desired stimulus.

Guidelines

Instructions or principles that direct actions or decisions.

Families

Social units consisting of parents and their children, extended to include other relatives, characterized by shared living arrangements and economic ties.

Schools

Institutions dedicated to the education and learning of students, typically involving a structured curriculum and environment.