IDENTIFICATION -Celia Sánchez

question 68

Short Answer

IDENTIFICATION
-Celia Sánchez

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Definitions:

Complete Rationality

The assumption that we take into account every single criterion or possible alternative to make a decision.

Bounded Rationality

The idea that we are restricted by a variety of constraints when making decisions.

Bounded Rationality

A concept that decision-makers are limited by the information they have, their cognitive limitations, and the finite amount of time they have to make a decision.

Essential Rationality

The inherent human capacity to think logically and make decisions based on reason and critical thinking.