____ Occurs When the Decision Maker Is Constrained by His

question 191

Multiple Choice

____ occurs when the decision maker is constrained by his or her own values,experiences,skills,and reflexes.He or she also has less than complete knowledge and information.

• A) Optimization
• B) Intuitive decision making
• C) Bounded rationality
• D) Escalation of commitment
• E) Satisficing

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Definitions:

Substitute Products

Goods or services that can serve as replacements for each other; when the price of one goes up, the demand for the other might increase.

Information-Based

Referring to processes, businesses, or systems that primarily rely on data and information to function or provide value.

Manufacturing

The process of producing goods and products in large quantities through the use of labor, machines, tools, and chemical or biological processing.

Robotic Pizza Delivery

The use of autonomous robots to deliver pizzas from the restaurant to the customer's location.