Bounded Rationality Is Assumed in the _____ Model of Decision

question 14

Multiple Choice

Bounded rationality is assumed in the _____ model of decision making.

• A) administrative
• B) rational
• C) classical
• D) groupthink
• E) irrational

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Definitions:

System-1 Decision

Fast, automatic, intuitive responses or decisions, as categorized by dual-process theory in cognitive psychology.

Deliberating

The process of thoughtfully considering various aspects or options before making a decision.

System-1 Thinking

A fast, automatic, intuitive, and emotional way of thinking and decision-making, contrasted with more deliberate and logical System-2 thinking.