The Concept of "Bounded Rationality

question 107

Multiple Choice

The concept of "bounded rationality":

• A) suggests that rationality is unlimited
• B) takes into account the fact that choices are often based upon incomplete (or defective) information
• C) refers to the roots of rationality in early development
• D) pertains to the many different boundaries between rational and irrational behavior

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Definitions:

Information Systems

Integrated sets of components for collecting, storing, processing, and communicating information, supporting decision-making, coordination, control, analysis, and visualization in an organization.

Levels of Analysis

Different perspectives from which social scientists study phenomena, ranging from the individual level to larger groups like societies or nations.

Organizational Events

Occurrences within an organization that have the potential to affect its operations, culture, or stakeholders, ranging from internal meetings to external changes in the business environment.

OB

Organizational Behavior; the study of human behavior in organizational settings, the interface between human behavior and the organization, and the organization itself.