Limited or Bounded Rationality as a Theory of Decision Making

question 1

True/False

Limited or bounded rationality as a theory of decision making asserts that "real" decision making involves a conflict of organizational and individual interests and a corresponding clash of information that results in the accommodation of diverse partisan political interests through bargaining.

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Definitions:

Short-Term Memory

The capacity for holding a small amount of information in mind in an active, readily available state for a short period.

Information Processing

The view in which cognitive processes are compared to the functions of computers. The theory deals with the input, storage, retrieval, manipulation, and output of information. The focus is on the development of children’s strategies for solving problems—their “mental programs.”

Theoretical Orientation

A specific set of beliefs, attitudes, and practices that guide a therapist or counselor in their approach to understanding clients' issues and helping them.

Deductive Logic

A method of reasoning from one or more statements (premises) to reach a logically certain conclusion, based on the principle that if the premises are true, the conclusion must be true.