Which of the Following Statements BEST Describes Bounded Rationality

question 41

Multiple Choice

Which of the following statements BEST describes bounded rationality?

• A) Decision makers are limited by having incomplete information as well as by their values,unconscious reflexes,skills,and habits.
• B) Decision makers have complete information regarding the situation and all possible alternatives.
• C) Decision makers will be able to fully anticipate the consequences of each available alternative because these consequences define the boundary.
• D) People tend to be rational decision makers,and this fact bounds the creativeness and effectiveness of decisions.
• E) Alternative permutations make it imperative for rational decision makers to create a bounded number of evoked alternatives.

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Definitions:

Truth-functional Compound

A complex statement in logic that is determined to be true or false based entirely on the truth values of its component statements.

Quantifier

A logical symbol or word used in mathematics and logic to specify the quantity of specimens in the domain of discourse.

Compound

A substance made from two or more elements chemically bonded together.

Atomic

Pertaining to the smallest component of an element that maintains the chemical properties of that element.