Examlex
"Some contracts are considered illegal even though the conduct involved is not prohibited by any law." Explain the accuracy of this statement.
Bounded Rationality
A decision strategy that relies on limited information and that reflects time constraints and political considerations.
Bounded Rationality
A theory suggesting that decision-makers are limited by the information they have, their cognitive limitations, and the finite amount of time they have to make a decision.
Time Constraints
The limitations or deadlines imposed on a task or project, influencing its completion.
Political Considerations
Factors related to government, policy, or organizational politics that influence decisions and actions.
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