The Concept of Bounded Rationality Suggests That We Are Likely

question 114

Multiple Choice

The concept of bounded rationality suggests that we are likely to

• A) choose the first acceptable alternative.
• B) evaluate all alternatives simultaneously.
• C) pick the alternative that minimizes value.
• D) use accurate information to evaluate alternatives.
• E) develop an exhaustive list of alternatives to consider as solutions.

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Definitions:

Stimulus

A stimulus is any event or situation that evokes a response or reaction from someone or something.

Vicarious Learning

A learning process where individuals acquire knowledge or behaviors by observing the actions and consequences experienced by others.

Modeling

The process of learning and mimicking behaviors, attitudes, or techniques from others, often role models or mentors.

Albert Bandura

A psychologist renowned for his work on social cognitive theory and the concept of self-efficacy.