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Martha has been a professor at a major state university for 20 years.Martha loves her work and is satisfied with the university.Because of her high level of publications and her high quality of teaching,Martha has received the highest raises possible every year.Since this a public university,Martha has access to all the salary data for all her fellow professors.She has learned that the last three professors hired in her field at her level were paid one-quarter more than she is paid.This amounts to tens of thousands of dollars.Martha is shocked and gathers data on the job market in her field.She finds that her pay is much lower than the market rate.Martha has encountered
Satisficing
A decision-making strategy that entails searching through the available alternatives until an acceptability threshold is met, rather than seeking the best possible solution.
Optimal Decisions
Choices made that are the most advantageous or beneficial given the current situation or data.
Multiple Options
Refers to situations or questions that offer more than one possible answer or choice.
Outcomes Of Decisions
The consequences or results that follow from the choices individuals make.
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