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Person Analysis

question 23

Multiple Choice

Person analysis:


Definitions:

Herbert Simon

Herbert Simon was an American economist and cognitive psychologist known for his research on decision-making processes and artificial intelligence, receiving the Nobel Prize in Economic Sciences.

Economic Person

A theoretical concept that assumes individuals act rationally and primarily out of self-interest, seeking to maximize their own utility.

Perfect Prototype

An ideal or optimal model of a process, product, or concept that serves as a standard for replicating or comparing similar entities.

Bounded Rationality

A concept that individuals make decisions based on the limited information they have available and their own mental limitations.

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