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Bounded Rationality

question 15

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Bounded rationality:


Definitions:

Drive Reduction

A motivational theory that suggests behavior is motivated by the desire to reduce internal drives caused by unmet physiological needs, aiming to return to a state of homeostasis.

Incentive

A factor, often external, that motivates or encourages individuals to act or behave in a certain way.

Biological Motives

Biological motives are innate needs that regulate survival and reproduction, encompassing hunger, thirst, pain avoidance, and sexual desire.

Social Motives

The psychological factors that drive individuals to seek social connections, acceptance, and positions within social structures.

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