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A planar cross section through two spherical waves emanating from the sources S1 and S2 in the plane is shown in the figure. S1 and S2 are in phase. The black circles are one and two wavelengths from their respective sources. The lighter circles are one half and one and a half wavelengths distant from their respective sources. If the waves shown arriving at P2 both arrive with amplitude A, the resultant amplitude at point P2 is
Bounded Rationality
A concept suggesting that decision-making is limited by the information available, cognitive limitations of the mind, and the finite amount of time available to make a decision.
Herbert Simon
An American economist and cognitive psychologist known for his research in the fields of decision-making and problem-solving, notably the concept of bounded rationality.
Behavioural Economic Theory
An approach combining psychological insights with economic theory to predict and understand human decision-making.
Ideal Goals
Objectives or aims that represent a perfect or most desirable outcome, often used as benchmarks for success or aspiration.
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