Bounded Rationality

question 7

Multiple Choice

Bounded rationality:

• A) should be avoided.
• B) involves an 8-step decision making process, including both problem identification and problem solution.
• C) proves to us that even when time and resources are limited, we should quantify as much as possible to weigh all alternatives correctly.
• D) describes how decisions actually have to be made under severe time and resource constraints.

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Definitions:

Approach-Avoidance Conflict

A psychological struggle where a single goal or option has both appealing and repelling aspects, causing conflict.

Attack-Avoidance Conflict

A psychological conflict that occurs when an individual is motivated to approach or attack a goal but also wishes to avoid it due to perceived negative consequences.

Avoidance-Avoidance Conflict

A psychological conflict that occurs when an individual is forced to choose between two equally unattractive options or outcomes.

Coping Abilities

An individual's effective strategies and skills in dealing with stressful or challenging situations.