Examlex
Which statement is true?
Bounded Rationality
A concept that decision-makers are limited in their decision-making capabilities by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make decisions.
Cognitive Limitations
Cognitive limitations are the boundaries of human brain’s capacity to learn, remember, and make rational decisions.
Ambiguous Problems
Challenges or issues lacking clarity and that are open to multiple interpretations or solutions.
Ethical Soundness
The degree to which actions or policies are morally upright and adhere to accepted ethical standards.
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