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Perfectly Rational
A theoretical concept in which an individual is assumed to make decisions that maximize their utility based on complete information.
Satisfice
A decision-making strategy that involves choosing an option that meets a minimum threshold of acceptability rather than the optimal solution.
Satisficing
A decision-making strategy that aims for a satisfactory or adequate result, rather than the optimal solution, due to limitations in time, information, or resources.
Absenteeism
Absenteeism refers to the habitual non-presence of an employee at their job without a valid reason, often affecting productivity and morale.
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