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According to Bounded Rationality Theory, People Make Better Decisions When

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According to Bounded Rationality Theory, people make better decisions when their perceptions are "bounded" or framed by past experience.


Definitions:

Informed Consent

A process by which a person voluntarily confirms their willingness to participate in a particular activity, after being informed of all the risks, benefits, and alternatives.

Phase I Clinical Trials

The first stage of clinical trials for new drugs or treatments, primarily concerned with assessing safety and dosage in a small group of people.

Dosage

Dosage refers to the size, frequency, and number of times a medication or drug should be taken to achieve its intended effect.

Toxicity

The degree to which a substance can cause harm to an organism, ranging from mild irritation to lethal effects.

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